Indian finished steel imports jumped up to 53% in Apr- July 2012- Govt

Indian finished steel imports jumped up to 53% in Apr-July 2012 according to Indian government.

Market sources report that on low offers by Chinese steel mills have made imports attractive.Say HR coil of 2.5 mm offers from China stand at around $570/t,CFR India where as domestic offers stand at around $630-660/t Ex-works and despite weak rupee against dollar, imports have increased.