Steel imports surge 16% in FY18

Exports likely to fall with rupee depreciation

After a year’s respite, steel imports increased 15.9 per cent to 3.4 million tonnes (mt) during April-August as compared to the corresponding period last year, said the Joint Plant Committee (JPC).

The rise was sharper in August. Overall imports in the month were up 20 per cent over July and 62 per cent over August 2016. In fact, India was a net importer of total finished steel in August but maintained its net exporter status during April-August, according to the JPC. 

Exports in August stood at 0.9 mt.

Steel companies are apprehensive of a repeat of a surge in imports witnessed in 2015-16.