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[Ferro-Alloys.com] Indian steel industry is facing some challenges, according to Union Steel Minister Dharmendra Pradhan. The minister also noted that the global steel industry is facing the challenge of surplus production.

 

According to official data, share of imports of finished steel from FTA countries such as Korea, Japan and Indonesia aggregated around 70 per cent of total imports to India in August 2019.

 

India's coal import declined by 3.7 per cent to 18.93 million tonnes (MT) in July this year from 19.67 MT in the same month a year ago. Of the total coal imports in July 2019, non-coking coal shipment was at 12.66 MT, coking coal's was at 4.17 MT, among others, according to a provisional compilation by mjunction services based on monitoring of vessels' positions and data received from shipping companies.

 

The Vietnam Steel Association (VSA) has said local steel producers faced difficulties in the first months of 2019 when prices averaged just 650 USD per tonne, a fall of 12 percent compared to the same time last year, driven by trade tensions.