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Steel import from Japan, Korea increases

Posted on Nov 29, 05:55PM | IBNS

Union Steel Minister Beni Prasad Verma on Thursday said that import of finished steel from all sources, including Japan and Korea, has marginally increased from 6.66 million tonnes in 2010-11 to 6.83 million tonnes in 2011-12 i.e. an increase of 2.4pc .

In a written reply in the Rajya Sabha, Verma said, during 2011-12, the real consumption of finished steel in the country was 70.92 million tonnes as against the production of 73.42 million tonnes.

However, for meeting any mismatch of domestic supply and demand or otherwise, import/ export of finished steel is also permissible, he said.