Indian companies suffer as Chinese steel floods market

News Snapshot:

NEW DELHI : Cheaper stainless steel imports from China have flooded the Indian market , leading to small and medium enterprises operating at just 30% of their capacity because of weak demand for local products. Small and medium enterprises producing 200 series stainless steel flat products were operating at less than a third of their 1.5 million tonne (mt) capacity as of the end of March, the lowest utilization level in the past six years, according to industry data shared with the government and reviewed by Mint. View Full Image Graphic: Mint “Imports from China are cheaper and have led...