Another Chinese Steelmaker Receives BIS Certificate for Rebar

Total three Chinese companies have received BIS certification from Indian government under IS 1786 standard.

Recently a Chinese steelmaker, Hebei Jinxi Iron & Steel Group has received BIS certification IS 1786:2008 for export of rebar. Please click

On 10 Aug’15, already two Chinese steel makers namely Rizhao Steel Wire and Jinangyin Xicheng Steel had received BIS certification (IS 1786:2008) for rebar export from the Indian government.

At present, Chinese rebar offers in Chennai port are assessed at around USD 300/MT, CFR with USD 40/MT handling and clearing charges. While in Chennai domestic market, rebar offers are assessed at USD 410/MT (basic price, excise duty and other taxes extra).

Various Indian steel associations earlier had opposed the increasing cheaper import, concerning a threat to India domestic industry. On 4 Dec’14, the government had imposed strict BIS norms for rebar trading in Indian territory.

A manufacturer based in Chennai said, “Looking at continuous surge in export by Chinese steelmakers, Madras Steel Re-rollers Association is likely to apply for safeguard duty to Indian government on long products very soon in order to restrict imported rebar in India.”

Another rebar manufacturer based in Mumbai stated, “Chinese steelmakers receive rebate of 14% on export of rebar in alloy category. As per BIS norms, they have to export under non-alloy category. It is early to say that how much these three license will impact Indian market. As if they export non-alloy rebar, it wil cost USD 340/MT, CIF India to them.”

Bar and Rod Import since Apr’15

Quantity in MT
*till 7 th
Source: SteelMint Research