Global industry body, World Steel Association (WSA) has said that India,
the world's third largest steel producer, was among the top 10
importers of the alloy last year.
As per reports, India imported 13.3 million tonnes (MT) of the metal in 2015 and was just a notch up from China, which imported 13.2 MT of steel during the same period.
According to Indian government data, steel imports rose by 25.6 per cent to 11.71 MT during the 2015-16 financial year against 9.32 MT in the year-ago period. India was a net importer of the metal in the last fiscal.
As per reports, WSA data also showed that India exported 7.6 MT of steel in 2015, which was just a fraction of what its neighbour China exported during the same period at 111.6 MT.
On the positive side, WSA forecasted that India's steel demand is expected to grow by 5.4 per cent to 83.8 MT in 2016 on the back of low oil prices and reform momentum.
According to Indian government data, steel imports rose by 25.6 per cent to 11.71 MT during the 2015-16 financial year against 9.32 MT in the year-ago period. India was a net importer of the metal in the last fiscal.
As per reports, WSA data also showed that India exported 7.6 MT of steel in 2015, which was just a fraction of what its neighbour China exported during the same period at 111.6 MT.
On the positive side, WSA forecasted that India's steel demand is expected to grow by 5.4 per cent to 83.8 MT in 2016 on the back of low oil prices and reform momentum.
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