India imports more steel from CIS
According to a press release from the Indian government, the country's steel imports from the
CIS countries during the last quarter of 2004-05 fiscal year and April-May 2005 period increased significantly compared to the corresponding periods of the previous fiscal year.
The government attributes this increase largely due to decline in imports by
China, lower than expected demand in the EU, decline in exports to
China by
Russia and
Ukraine, and increased demand for steel in the domestic market.
Upon the increased volume of steel imports from the
CIS countries, Indian steel producers, in order to avoid any injury, urged the government to monitor imports, particularly from the
CIS countries. Upon this call, now the Indian government is monitoring the imports.
The government also announced that if necessary, they would not hesitate to take appropriate measures.