India March Steel imports rise for the first time in last 5 months

INDIA April 06 2016 4:16 PM     

MUMBAI (Scrap  Register): India's steel imports advanced for the first time in last  five months during March of this year mainly due to the back of deals struck  before the government imposed a floor price in February to curb cheap  imports.

India, the world's third biggest steel producer, has imported  994,000 tons of steel in March, an increase of 18.2% as compared to a March 2015  and up 9.1% compared with February.

Steel imports advanced by 20.2% in  the fiscal year ended March 2016 compared with the same period last year, the  data showed.