Indian Flat Steel Imports Surge 33% M-o-M in Apr’18

According to recent customs data released, Indian flat steel imports were recorded at 0.60 MnT in Apr’18 which was 0.45 MnT in Mar’18.Thus nation’s flat steel import volumes recorded the surge of 33% on monthly basis in Apr’18.

However on yearly basis nation’s flat steel imports decline by whopping 58% in Apr’18 against 0.38 MnT in Apr’17.

Global HRC export offers slashed in beginning of Mar’18 and remained on the lower side before increasing in last week of Apr’18. Chinese HRC export offers moved down from USD 615/MT, FoB China from beginning of Mar’18 to USD 580-585/MT, FoB in mid Apr’18. Few import bookings of HRC were concluded with Japan and South Korea for May shipments owing to shortage of material in domestic market.Meanwhile landed cost of HRC is at par with domestic prices which increases imports to India.

India’s HRC/Plates import volumes hit 8 month high in Apr’18- India imported 0.25 MnT of HRC in Apr’18 up by 19% as compared to 0.21 MnT in Mar’18. HRC/Plates imports to India have hit eight month high as last highest import volume was seen at 0.32 MnT in Aug’17 .Imports of CRC up by 33% to 0.04 MnT and that of Galvanized steel was down by 9% to 0.10 MnT in Apr’18. However imports of electrical steel doubled in Apr’18.

Flat steel imports from China increased 33% in Apr’18- In Apr’18, imports from China- one of the major steel exporter stood at 0.04 MnT of flat steel in Apr’18 higher by 33% against 0.03 MnT in Mar’18.

Other major flat steel exporting countries to India were Japan at 0.07 MnT,down by 13% against 0.08 MnT followed by Korea at 0.24 MnT, down 8% in Apr’18 as compare to 0.26 MnT in preceding month. Meanwhile Imports from Ukraine increased to 0.04 MnT in Apr’18 which was at 0.01 MnT in Mar’18.

Import shipments at Mumbai port increased by 6% in Apr’18-Indian flat steel imports at Mumbai port increased by 6.25% M-o-M basis to 0.17 MnT in Apr’18 which was 0.16 MnT in Mar’18. However imports at Chennai port moved up by 22% on monthly basis to 0.11 MnT Apr’18 against 0.09 MnT in Mar’18.

Other major ports include JNPT at 0.15 MnT in Apr’18 increased significantly against 0.04 MnT in Mar’18.However imports at Mundra port stood at 0.07 MnT in Apr’18.

Major flat steel importers in Apr’18-Lee Vedla Exporters and Importers was the major flat steel importer and has imported 98,294 MT in Apr’18.Other major flat steel importers were POSCO Maharashtra Steel Pvt. Ltd,followed by Hyundai Steel India Private Limited and Welspun Corp.Ltd

Major Flat Steel Importer in Apr’18

Fig in MT
Source: SteelMint Stats, Customs