Bar and rod import to India has crossed the figure of 1.8 MnT during Jan-Dec’15, out of which almost 55% consist of wire.
Bar and rod import to India was more or less flat in Dec’15 as compared to previous month, as per customs data available with SteelMint. Import of bar and rod stood at about 0.13 MnT in Dec’15, out of which 50% of the imported material comprises of wire.
Last month, importers were hesitating to take positions because of Indian government’s signal to take additional measures like safeguard duty to be extended on other steel products and proposal of minimum import price on certain steel products. However, no such actions have been taken so far.
Meanwhile, Chinese rebar and wire rod export offers have fluctuated in Dec’15 by USD 5-15/MT. Presently, Chinese rebar and wire rod export offers stood at USD 255-260/MT and USD 275-280/MT, FoB main port respectively.
During Jan-Dec’15, import of bar and rod crossed the figure of 1.8 MnT, out of which around 55% consist of imported wire products.
Bar and rod import to India during Jan-Dec’15
| Month | Alloy bar & rod (CH-7228) | Non-alloy bar & rod (CH-7214) | Non-alloy bar & rod coil (CH-7213) | Other Non-alloy bar & rod (CH-7215) | Alloy wire (ch-7227) | Non-alloy wire (CH-7217) | Total | M-o-M |
| Jan’15 | 34,868 | 24,632 | 6,851 | 1,650 | 82,145 | 9,383 | 1,59,529 | – |
| Feb’15 | 80,361 | 13,254 | 7,137 | 2,054 | 85,903 | 11,301 | 2,00,013 | +25% |
| Mar’15 | 26,994 | 13,270 | 3,247 | 1,514 | 57,846 | 10,703 | 1,13,577 | -43% |
| Apr’15 | 31,398 | 21,331 | 7,273 | 2,353 | 32,524 | 10,769 | 1,05,647 | -7% |
| May’15 | 22,863 | 7,367 | 6,173 | 2,038 | 34,366 | 13,142 | 85,952 | -19% |
| June’15 | 37,910 | 23,975 | 9,123 | 1,840 | 73,798 | 11,390 | 1,58,037 | +84% |
| July’15 | 22,938 | 26,602 | 2,926 | 2,737 | 71,347 | 12,954 | 1,39,504 | -12% |
| Aug’15 | 34,125 | 12,861 | 3,381 | 2,318 | 1,07,456 | 11,925 | 1,72,066 | +23% |
| Sep’15 | 43,155 | 14,788 | 3,406 | 1,559 | 97,045 | 15,793 | 1,75,746 | 2% |
| Oct’15 | 62,271 | 35,470 | 7,760 | 1,035 | 1,22,524 | 14,494 | 2,43,554 | +39% |
| Nov’15 | 44,739 | 7,501 | 6,731 | 974 | 67,445 | 11,853 | 1,39,242 | -43% |
| Dec’15 | 34,466 | 28,527 | 6,499 | 1,288 | 56,229 | 11,852 | 1,38,861 | -0.3% |
| Total(Jan-Dec’15) | 4,76,088 | 2,29,578 | 70,505 | 21,360 | 8,88,628 | 1,45,559 | 18,31,728 |
Quantity in MT, provisional data
Source: Custom data, SteelMint Research
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