India faces rising steel imports as demand growth exceeds output

摘要

India's economy may face rising steel imports amid market concerns that consumption growth of finished steel for financial year 2018-2019 outstripped that of production, latest Joint Plant Committee data showed. Consumption grew 7.5% year on year to 97.54 million mt, while production rose 3.7% to 131.57 million mt from April 2018 to March 2019. Typically, India's financial year begins in April and ends in March.