India turns to net steel importer in Fiscal year 2018-2019
India has became a net importer of steel in the fiscal year 2018-2019 that ended on 31 March for the first time in 3 years, as the 25% import duty on steel products imposed by the US diverted supplementary supplies to India. India’s steel imports increased by 4.7% to 7.84 million tonnes in 2018-19 from 7.48 million tonnes a year earlier. Exports fell by 34% to 6.36 million tonnes from 9.62 million tonnes over.
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