Indian Finish Long Steel Imports Hit 8-months Low in October

Finish Long Steel imports in India recorded 8 months low in Oct’18, also it fell by around 38% M-o-M.

As per custom data maintained by SteelMint, Finish long steel imports in India was registered at 28,671 MT in Oct’18 as against 46,456 MT in Sep’18, down by 38.28% M-o-M. In line, yearly basis import diminished by 30.74% against 41,399 MT in Oct’17.

Factor which have resulted low imports in finish long steel are declining prices of rebar in Indian domestic market

Declining imports also referred to fall in Indian currency against USD which made imports costlier and adequate production by domestic manufacturers.

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 being the major imported material during Oct’18 and registered with 13,150 MT (down by 51.31%) followed by Wire rod at 12,515 MT (down by 8.71%) & Structure registered at 3,005 MT (down by 47.62%) M-o-M basis.

Port wise unloading exist as Jawaharlal Nehru Port (JNPT) registered at 12,536 MT (down by 16%) followed by Chennai 6,928 MT (down by 37%) & Kattupalli port which is also located near to Chennai port registered at 5,889 MT.

Country Wise – Out of total Finish Long imports in Oct’18, major imports origin by China registered at 8,421 MT (-22.46%) followed by Thailand 6,889 MT (-49.26%) and South Korea registered at 3,857 MT (-43%).

Finish Long Steel Importers in India- (Oct’18)

Quantity in MT
Source-SteelMint Stats