core sector communique

Production of steel

The Minister of Steel, Shri Beni Prasad Verma has said that during 2011-12, the real consumption of finished steel in the country was 70.92 million tonnes as against production of 73.42 million tonnes. However, for meeting any mismatch of domestic supply and demand or otherwise import / export of finished steel is also permissible. In a written reply in the Lok Sabha today he said, import of finished steel has marginally increased from 6.66 million tonnes in 2010-11 to 6.83 million tonnes in 2011-12 i.e. increase of 2.4%. However, Directorate General of Anti-Dumping & Allied Duties (DGAD) initiates anti-dumping investigations on the basis of duly substantiated petition filed by the domestic industry with a prima-facie evidence of dumping of goods into the country causing injury to the domestic industry.