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Indian steel imports on rising trends

According to steel industry sources import of finished steel is showing an uptrend.

Between April and December 2010 imports were 5.36 million tonnes up from 5.24 million tonnes in the same period of the previous year.

If this trend persists the total import in 2010-2011 is likely to exceed 7.38 million tonnes in 2009-2010. In 2008-2009 the import was of the order of 5.84 million tonnes.

Between April and December 2010 the demand was 51.80 million tonnes while the domestic availability was 46.44 million tonnes. In the corresponding period of the previous year the demand was 47.29 million tonnes and the domestic production 42.05 million tonnes. In 2009-2010 the total demand was 63.55 million tonnes while the domestic availability was 56.17 million tonnes and the corresponding figures for the previous year were 58.28 million tonnes and 52.44 million tonnes respectively.

(Sourced from Business line)