India: Flat Steel Imports Fall 13% M-o-M in Dec 17

Indian flat steel imports declined significantly by 13% on monthly basis to 0.45 MnT in Dec’17. Imports from South Korea moved up by 11% M-o-M to 0.21 MnT in Dec 17.

According to provisional customs data maintained with SteelMint ,Indian flat steel imports witness the fall of 13% to 0.45 MnT on monthly premise in Dec’17 as compared to previous month. In Nov’17 nation’s flat steel imports stood at 0.52 MnT.

HRC export offers from countries like China, Japan and South Korea maintained an upside in Nov’17 resulting in fewer import bookings.

Meanwhile on yearly basis,Indian flat steel import volumes declined marginally by 2% in Dec’17 which was recorded at 0.46 MnT in Dec’16.

In the year 2017 nation’s finish flat imports moved down slightly by 1% to 6.09 MnT in comparison with 6.14 MnT in CY16.

India’s HRC import volumes plunged 21% M-o-M in Dec’17-In Dec’17,India imported 0.15 MnT of HRC/Plates (CH 7208) which came down by 21% M-o-M basis in comparison to 0.19 MnT in Nov’17. Besides this, electrical steel imports decline significantly by 39% to 0.11 MnT in Dec’17 against 0.18 MnT in previous month.

However imports of Galvanized steel surged by 17% M-o-M basis to 0.14 MnT and CRC imports doubled in Dec’17.

Flat steel imports from South Korea increased by 11% in Dec’17 – In the month of Dec’17, South Korea has exported 0.21 MnT of flat steel up by 11% on monthly basis against 0.19 MnT in Nov’17. Other major importing nations of India in the month of Dec’17 were China at 0.09 MnT , Japan at 0.08 MnT, Russia at 0.01 MnT and Vietnam at 0.01 MnT.

In the year 2017, South Korea has remained largest flat steel exporter to India and accounted for 37% of share (2.29 MnT) followed by China which accounted for 24.38% (1.48 MnT) and Japan at 19.38% (1.18 MnT). Other major sources were – Russia, Vietnam and Taiwan.

Port-wise Indian Flat steel imports in Dec’17-Mumbai port accounted for 0.20 MnT of flat steel imports in Dec’17 up by 5% M-o-M against 0.19 MnT in Nov’17.Other Indian ports which accounted for major share in Indian flat steel imports was Mundra at 0.03 MnT followed by Chennai at 0.08 MnT, Kandla at 0.04 MnT and JNPT at 0.04 MnT in Dec’17.

POSCO Maharashtra remained the largest flat steel importer in Dec’17- POSCO Maharashtra Steel Pvt.Limited was the major flat steel importer and has imported 58,065 MT in Dec’17.Other major flat steel importers were Hyundai Steel Pvt.Ltd and Maruti Suzuki India Ltd.

India Flat Steel Import in December’17