Steel imports from South Korea and Japan fill up the Chinese gap

The Indian steel industry has asked for a safeguard duty on steel imports

While the domestic steel demand has shrunk, there has been an increase in steel import, especially from South Korea. There has, however, been a reduction in imports from China, but this has been compensated by increased imports from South Korea and Japan, which have strengthened their grip on the Indian steel market. 

The Indian domestic steel industry has asked for safeguard duty on steel imports, even as the issue of imports came up for extensive discussion between Union Commerce Minister Piyush Goyal and Steel Minister Dharmendra Pradhan last week.  

Domestic steel consumption growth eased to 7.5 per cent in 2018-19