India Becomes Net Steel Importer In 2018-19

India was a net importer of steel during the 2018-19 fiscal year, the first time in three years, as the country lost market share among its traditional steel buyers and imports jumped on demand for higher-quality steel domestically.

The country’s finished steel exports fell by 34% in the fiscal year that ended in March to 6.36 million tonnes, according to preliminary government data given to Reuters on Friday. During the same period, finished steel imports rose 4.7% to 7.84 million tonnes.

Source: The Hindu

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