Indian Flat Steel Imports Increase by 8% in Oct’18

According to customs data released, Indian flat steel imports stood at 0.52 MnT in Oct’18 witness the growth of 8% as compared to 0.48 MnT in previous month.

Indian importers have booked around 25,000 MT of HRC (2mm) from Korea at USD 620-625/MT CFR India, down by USD 10-15/MT for October  shipments.Meanwhile Indian importers also booked around 20,000 MT of HRC from Japan  in Sep’18 at USD 645/MT CFR basis for Oct or early Nov shipments.

Thus Indian importers booked significant quantities of HRC from South Korea, Japan and China amid downtrend in global prices.

On yearly basis nation’s flat steel imports moved up by 6% in Oct’18 as compared to 0.49 MnT in Oct’17.

In first ten months of Jan-Oct’18 nation’s flat steel imports stood at 4.97 MnT fell by 3% against 5.12 MnT in same time frame of previous year.

Indian GP/GC imports move up by 20% in Oct’18 – Nation’s Galvanized steel imports stood at 0.12 MnT in Oct’18,up by 20% against 0.10 MnT in Sep’18.

However nation’s HRC/plate imports of HRC moved up by 6% to 0.18 MnT in Oct’18 which was 0.17 MnT in previous month.

Meanwhile,India imported 0.15 MnT of electrical steel which remain stable since past two months.However imports of CRC recorded significant growth at 0.06 MnT in Oct’18.

Imports from Japan increased by 13% in Oct’18 – Imports from Japan stood at 0.09 MnT in Oct’18 surge by 13% M-o-M basis against 0.08 MnT in previous month.However imports from China moved up by 14% to 0.08 MnT in Oct’18 as compared to 0.07 MnT in Sep’18.Meanwhile imports from Taiwan,Indonesia and Vietnam also witness increase in Oct’18.

However imports from South Korea decline by 8% on monthly basis to 0.23 MnT in Oct’18 which was 0.25 MnT in previous month.

Flat steel imports at Mumbai port remain stable in Oct’18 – Flat steel imports at Mumbai port remain stable at 0.15 MnT since past two months.

However imports at Mundra port stood at 0.06 MnT in Oct’18,higher by 20% against 0.05 MnT in Sep’18.

Meanwhile imports at Kandla port stood at 0.09 MnT in Oct’18 against 0.06 MnT in Sep’18.

However imports at Chennai port decline by 25% to 0.09 MnT down by 0.12 MnT in previous month.

Major flat steel importers in Oct’18 – POSCO Maharashtra Steel Pvt.Ltd was the major flat steel importer in Oct’18.Other major flat steel importers were Welspun ,Hyundai Steel India Pvt Ltd. followed by China steel and Jindal Steel

Product-Wise Flat Steel Importers in Oct’18

Fig in MT
Source- SteelMint Research