Indian Bar and Rod imports moved up as per recently released data by Indian customs of Jul’18.
As per custom data maintained by SteelMint stats, finish long steel imports to India registered at 52,259 MT in Jul’18 against 42,216 MT in Jun’18, up by 23.78% M-o-M. In line it has increased by 34.42% and registered at 38,871 MT in Jul’17, Y-o-Y basis.
Under Finish Long commodities following HS Codes has been considered – Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).
Commodity wise Rebar imports were registered at 22,288 MT (down by around 1%) followed by Wire Rod at 16,213 MT (up by 5.83%) & Structure registered at 13,758 MT (up by 207%), M-o-M basis.
— Inclining Imports of Finish Long Steel could be better import options in comparison to domestic market as major proportionate import registered at south region – Chennai port i:e; 16,997 MT (32.52%)in Jul’18.
— Chennai monthly average prices for Rebar registered at INR 40,600/MT & 39,330/MT (USD 597 & 574/MT) June & July respectively and on the other hand with same period China FoB prices hovering around USD 552-553/MT.
— The major Imports in India during Jul’18 origin by Singapore at 11,483 MT which is being followed by China at 10,905 MT and South Korea – 9,968 MT.
— Unloading Port Wise data acquired the third largest container port in India i:e; Chennai port formerly known as Madras Port which is registered at 16,997 MT followed by Nhava Sheva at 12,140 MT & Kattupalli port which is also located near to Chennai port around 30 KM which is registered at 11,628 MT.
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