India's steel imports from China nearly trebled during the April-January period of this fiscal to over 29 lakh tonnes (LT), Parliament was informed today.

The country had imported 10.88 LT steel comprising 6.46 LT carbon steel and 441.70 LT ally/stainless variety during the entire 2013-14 fiscal.

"Carbon steel imports during the period (April-January) from China stood at 15.27 LT while alloy/stainless steel imports were at 13.76 LT", Minister of State for Steel and Mines Vishnu Deo Sai said in written reply to the Lok Sabha.

"In 2012-13, imports were higher at 16.88 LT compared to 15.03 LT a year earlier."

"The global steel industry, including India, in general is going through a difficult phase," the minister said.

Replying to an another question, he said Steel Authority of India has entered into an "associateship agreement" with State Trading Corporation of India (STC) for supply of one LT steel rails to STC for exporting to its potential customers in Persian Gulf, which may include Iran.

"Against this agreement, so far no rails have been supplied, as the contract between STC and Indian Railways is not yet effective since Iranian Railways is yet to obtain necessary approvals," Deo said.

 

Source : http://economictimes.indiatimes.com/

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