Why are cheap steel imports a concern for India?

The government imposed countervailing duties of 12-30 percent on steel imports from China and Vietnam last week, heeding steelmaker’s pleas to protect domestic producers from cheap imports.

The move comes as Chinese steel imports to India surged 200 percent in the six months to June 30 from a year earlier, while Vietnamese shipments doubled, straining local producers of the alloy. Cheap imports have also undermined India’s steel export prospects.

Here are four charts that explores the domestic steel industry's concerns:

Steel products have been in deflation