The import of finished steel from China during first seven months of 2024 i.e. January-July 2024 (prov.), and January-July 2023 is given in table below:-

Item	January-July 2024* (in Lakh Tonnes)	January-July 2023 (in Lakh Tonnes)	% change*
Import of finished steel from China	16.1	9.0	80
Source: Joint Plant Committee (JPC); *provisional;

 

Steel is a de-regulated sector where prices of steel are determined by market dynamics and fluctuate depending on its availability. The Government acts as a facilitator, by creating a conducive policy environment for the development of steel sector in the country. The details of production, consumption and import of finished steel in the country during the last three years is as under:-

Year	Finished Steel  (in Million Tonnes)
	Production	Consumption	Import
2021-22	113.60	105.75	4.67
2022-23	123.20	119.89	6.02
2023-24	139.15	136.29	8.32
Source: Joint Plant Committee (JPC);

 

In order to enable consumption of quality steel by the end users, Bureau of Indian Standards (BIS) formulated standards for different grade of steel. Ministry of Steel accordingly issued steel Quality Control Order (QCO) which mandates that  only quality steel conforming to the relevant BIS standards notified under QCO are allowed and sub-standard steel products are not allowed. This ensures that only quality steel is made available to the end users & the public at large. The QCO is applicable to both the domestic steel producers as well as on the steel imported into the country. The QCO is a measure to ensure availability of quality steel to the end users, not to control steel imports. However, some steel grades, which are not covered by BIS standards, can be imported with a No Objection Certificate (NOC) from Ministry of Steel.

This information was given by the Union Minister for Steel and Heavy Industries, Shri H.D. kumaraswamy in a written reply in the Lok Sabha today.

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MG/KSR

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