I don't agree with your India direct comparison with China. They...

I don't agree with your India direct comparison with China. They have I believe the right man in charge in Modi but there is a huge amount of old cronyism to get rid of + corruption + self interest. They also have an entirely different method of government which is tediously slow.

India , whilst being the 4th largest producer of steel is still only about a tenth of the size of China.

If Modi can get large long term projects going then maybe we might see some stability in Fe but I wouldn't hold my breath. Their importing appetite is quite small and my own experience is for Lump and little Fines.

India has the potential given the size of the population but that population is very complicated to manage (religion, creed etc). It won't be a China style story (do as you are told).