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Economy

India's steel imports rise first time in 14 months in May, profit fears revive

MUMBAI (NewsRise) -- India's steel imports rose for the first time in 14 months in May as global prices continued to fall, a worrisome sign for domestic producers of the alloy that have barely recovered from a slump.

The concern is that Indian producers may find it difficult to match the lower prices in export markets. Prospects for domestic sales are also dimming as many projects have failed to take off.

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