India: Flat Steel Imports Decline 28% M-o-M in Sept’17

According to provisional customs data maintained with SteelMint ,Indian flat steel imports have declined 28% M-o-M basis in Sep’17. Nation has imported 0.55 MnT in Sep’17 which was at 0.76 MnT in Aug’17.

If yearly comparison is made Indian flat steel imports have increased by 45% against 0.38 MnT in Sept’16.

During the tenure of Jan-Sep’17 nation’s finish flat imports have reduced by 5.5% to 4.63 MnT compared to 4.9 MnT in similar time frame previous year.

India’s HRC/Plates imports fall by 33% in Sep’17 -In Sep’17,India imported 0.24 MnT HRC (CH 7208) fell significantly by 33%,M-o-M basis in comparison to 0.32 MnT in Aug’17.
Imports of CRC, electrical steel and galvanized steel also reported decline in Sep’17 against previous month.

In Sep’17 imports of GP/GC was assessed at 0.10 MnT, electrical sheets stood at 0.17 MnT and CRC at 0.03 MnT

Mumbai port witness the largest share of imports in Sep’17 -Mumbai port accounted for 0.23 MnT of flat steel imports in Sep’17 which saw the drastic decline of 53% against 0.49 MnT in Aug’17. Other major Indian ports which accounted for share in Indian flat steel imports was Chennai at 0.09 MnT ,Mundra at 0.06 MnT and Kandla at 0.03 MnT in Sep’17.

South Korea remained the major supplier of flat steel to India-South Korea was the major flat steel exporter to India and has exported 0.26 MnT in Sep’17 against 0.28 MnT in Aug’17.Other major flat steel exporters to India in the month of Sep’17 were China (0.12 MnT), Japan (0.08 MnT) and Russia (0.01 MnT).

After observing no exports since last 5 months, France and Austria have exported 0.02 MnT flat steel each to India in Sept’17.

However in first nine months (Jan-Sep’17) India imported 1.72 MnT (37.26% share of total flat steel imports) flat steel from South Korea followed by China which accounts for 23.51% and Japan at 20.66%.

Party-wise flat steel Imports in Sep’17-POSCO was the major flat steel  importer and has imported 1,02,279 MT  in Sep’17.Other major flat steel importers were Hyundai Steel India Private Limited,Jindal Saw Limited,Bhushan Steel Limited and Welspun Corp.Ltd.

Fig in MT
Source-SteelMint Research