Cheap Imports Worry India's Steelmakers  Date: 21-09-2012
Subject: Cheap Imports Worry India's Steelmakers NEW DELHI--
Japan and South Korea have -- over the past five months --
emerged as major steel exporters to India, compounding worries
for domestic manufacturers already threatened by cheaper
products from China.  Tokyo and Seoul haven't traditionally been
major exporters of steel to India, but with industrial activity
slowing in other Asian countries, India's market has emerged as
an attractive destination, given its strong demand and high
domestic prices.  In the April-August period, Japan's steel
exports to India surged 64% from a year earlier to 527,000 tons,
while South Korea sent in 657,000 tons, up 28% on year.  India
is the world's fourth-largest steelmaker after China, the U.S.
and Japan, but it has always been a net importer, bringing in
about 10% of total domestic consumption in the year through
March 2012.  The biggest chunk of its steel imports come from
China -- which produces 10 times more s