It's reported that India' steel consumption grew by just 0.2% to 17.797 million tons during April through June, 2013.
The reason for the almost stagnation was attributed to a slowdown in the domestic economy and a sharp decline in imports.
Total imported finished steel for the period was down 34.1% year-on-year at 1.32 million tons.
Factors such as bilateral agreements, relative prices, rate volatility, global downswing and a slowdown in domestic economy all contributed to the sharp decline in steel import.