Chinese imports cause operating capacity slump in India

The Indian Stainless Steel Development Association (ISSDA) claims that India's stainless steel imports amount to 40% of the country's total consumption of 2.5Mt.

In a report in the Indian Business Standard, Dilip Jha writes that, up until the last financial year, total imports of stainless steel from all countries was 100kt. However, total imports from China alone have gone up to 250kt during H1 2014.

According to N C Mathur, president of the ISSDA, imported stainless steel now accounts for around 40% of India's consumption and China's share stands at 25%.

Jindal Stainless plants in Odisha and Hisar are operating at 30% and 70% capacity respectively and SAIL (Steel Authority of India Ltd) has invested heavily in capacity additions.

Mathur called for protection in terms of anti-dumping duties.

India is the third largest producer and second largest consumer of stainless steel.