Steel imports jump 69% in April-May to 1.53 mt

India's steel imports jumped by 69% to 1.528 million tonne in the first two months of the fiscal due to firm demand from sectors like automobile, consumer durables and manufacturing.

"Despite the slowdown in domestic conditions in some of the end-use markets, demand remained firm from sectors like motor vehicles, transport equipment, basic goods, consumer durables and manufacturing," Joint Plant Committee (JPC) said in a recent note to the steel ministry.

"Given the relatively slow growth in supply conditions, present import growth may well be due to the combined demand impetus provided by these sectors," JPC, a steel ministry body which maintains non-partisan data-bank of the industry, said.

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on indianexpress.com are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, indianexpress.com reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.