Global Steel Trade; Structural Problems and Future Solutions

new sales growth. 196 By 1998, even before many of the new state-of-the-art steel plants had come on line,
estimates indicate that India’s finished steel exports had increased by more than 500 percent compared to
1991. 197 This trend is expected to continue in the coming years as even more capacity comes on line. 198 For
example, according to U.S. Census data, U.S. imports of steel mill products in 1998 increased 106 percent
compared to 1997. In 1999 imports from India increased again, up 46 percent from 1998. During the first
five months of 2000, U.S. imports of steel mill products are up 187 percent compared to the same period in
1999.
With the government expected to continue assisting and protecting the steel industry, there is significant
potential for India’s market-distorting practices to disrupt global steel trade.
Chapter 6: New Players in the Global Market—India 171