India's steel imports grew 17.5% during April-Jan

India's steel imports during the April-January period of the ongoing fiscal rose by 17.5% to 6.567 million tonnes, according to government data.

 

During the corresponding period of the last fiscal, India had imported 5.587 million tonnes steel.

 

The data, compiled by Joint Plant Committee (JPC), an unit under Steel Ministry, showed flat steel accounted for 88% of the total imports at 5.763 million tonnes during the period under review.

 

"During April-January period, flat steel imports (5.763 million tonnes) accounted for 88% of the import of total finished steel and saw a growth of 16% over the same period last year," a report said.

 

 

The import of non-flat steel stood at 0.804 million tonnes, up by 29% over the April-January period of the last fiscal.

 

Flat steels are used in consumer durables and automobile sectors among others.

 

Non-flats are used in the construction sector.

 

The JPC data showed China was the highest exporter of steel during the period at 1.490 million tonne accounting for 23% of the total imports into India.

 

Next in the line was South Korea at 1.303 million tonnes. With 1.221 million tonnes of exports to India, Japan was the third highest exporter. Germany and Ukraine also figure among the top-five steel exporters to India.