The tepid demand in the domestic steel industry has been accentuated by increasing instances of dumping of cheaper steel from China and the CIS (Commonwealth of Independent States) countries. To counter this, the steel ministry has pressed for raising import duty to shield the domestic industry.
According to the Ministry of Steel, imports from China in April-January 2014-15 rose to 2.9 million tonne (MT) against 1.08 MT for the entire 2013-14.
Major imports include HT Rolled (HR) Sheets and Coils, Plates, Bars while major exports include Galvanized Coils (GC),/Galvanized plates (GP), Cold Rolled (CR) Sheets, Hot Rolled (HR) Sheets.
Source: The Indian Express