India's steel import down to 14-month low in May
India's steel imports in May fell 41% year-on-year to 5.46 lakh tonnes, their lowest level in 14 months, according to government data. This comes after the government had earlier imposed restrictions on imports of cheaper steel from overseas. Meanwhile, steel production in the country during April-May rose 2.4% to 160 lakh tonnes. Notably, India is the third-largest producer of steel.