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Finished Steel Imports At Rs 26,387 Cr: Steel Minister

Date : August 30, 2011
Number of Views : 893

India Imported Finished Steel Products worth Rs 26,387 crore in 2010-11, a 3% rise in comparison to 2009-10, Parliament was informed today.

The country had imported finished steel worth Rs 25,623 crore in 2009-10, Steel Minister informed in a written reply to a question in the Lok Sabha.

India's Steel Imports were the highest in 2008-09, at Rs 30,714 crore, he said, quoting Joint Plant Committee (JPC) data.

In volume terms, India's imports during 2008-09, 2009-10 and 2010-11 stood at 5.84 million tonnes (MT), 7.38 MT and 6.8 MT, respectively.

On the other hand, the country exported 4.44 MT steel in 2008-09, 3.25 MT in 2009-10 and 3.46 MT in 2010-11, as per information.

Steel Production during the last three years, starting from 2008-09, amounted to 57.16 MT, 60.62 MT and 66.01 MT.

India's Finished Steel Production was 17.05 MT during the April-June period of the current fiscal, he said.

To a separate question, the minister said suspension of Iron Ore Mining operations in Bellary region might affect "production of Crude Steel to some extent" at units located in Karnataka and neighbouring areas, which source the key steel-making raw material from within the state.

The Supreme Court had suspended all mining operations in Karnataka's Bellary district in July this year. It later allowed NMDC to operate its mines in the district, but had capped the state-run firm's output at 1 MT per month.

In reply to a question relating to Ultra-Mega Steel Projects, the minister said a discussion paper has already been circulated to the concerned departments and ministries of the central and state governments.

"So far, replies have been received only from the Ministry of Mines and state governments of Kerala and Goa. The rest have been further reminded to respond early," he said, adding that deliberations on the matter could take place only after the views of all stakeholders were received.

News Category: Steel, Finished Products Angles, Fittings, Bends

News Type : Market News
Govt Policy


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