Central Board of Excise & Custom (CBEC) has given red signal to all custom officials viewing continuous rising imports from China. The board is likely to mandate BIS norms for imported Bar and Rod from China.
Indian Steel associations such as India Steel Rerolling Association (ISRA), All India Induction Furnace Association (AIIFA) and different representative from Maharashtra & Madras have already raised their voice against the rising imports of Rebar under alloy grade category since last 4 months. Ministry of Steel has informed that it has received many applications from the large/ small scale steel companies against the continuous rising Rebar imports from China & Ukraine without the BIS norms.
The board has examined the matter related to imported goods and found that it contains over 0.0088% Boron, which comes under CTH 7228 category. While, the said steel products Quality Control Order, 2012 mentioned that goods falling under CTH 72131090 and 72142090 (refer Sl.No.5 of the said Order) are seen to be imported in Chennai.
Imported Rebar is currently trading at Mumbai in the range of INR 32,000-32,600/MT. However domestic Rebar in Mumbai is hovering in the range of INR 33,000-33,300/MT for 12mm (Excise and VAT extra).
Rise in Imported Rebar since 6-month in Coastal Areas hits Domestic Bar & Rod Manufacturers
According to recent data released by Steel Ministry, total import of Bars & Rods (alloy & non-alloy) has increased by 43% in Sep’14 to about 154,990 MT in contrast to 23% in the previous month.
Import of Bars & Rods (Alloy & Non-alloy Steel) from Apr’14-Sep’14
|
Bar & Rod |
Apr’14 |
May’14 |
Jun’14 |
Jul’14 |
Aug’14 |
Sep’14 |
Total |
|
Alloy Steel |
21,700 |
32,000 |
8,160 |
14,380 |
44,040 |
23,490 |
1,20,280 |
|
M-o-M Change |
|
47% |
-75% |
76% |
206% |
-47% |
|
|
Non-Alloy Steel |
27,320 |
32,080 |
45,870 |
73,580 |
64,450 |
131,500 |
2,43,300 |
|
M-o-M Change |
|
17% |
43% |
60% |
-12% |
104% |
|
|
Total Import (Alloy & Non-Alloy) |
49,020 |
64,080 |
54,030 |
87,960 |
108,490 |
154,990 |
5,18,570 |
|
M-o-M Change |
|
31% |
-16% |
63% |
23% |
43% |
|
Qty in MT
Source: JPC – Ministry of Steel
For more information download the letter (click the below link)
http://www.steelmint.com/fileForMail/Exclusive_Letter_(1).pdf
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