India’s Flat Steel Imports Down by 31% in Jul’16

As per the provisional customs data, India’s total flat steel imports under HS code 7208, 7209 and 7225 have registered a significant fall of 31% in Jul’16 against previous month of Jun’16. The same stood at 0.25 MnT in July against 0.36 MnT in June.

HS code 7208 covers HR coils and plates, 7209 covers CR coils whereas electrical sheets are covered under HS code 7225.

If product wise imports are analyzed for the month of Jul’16, HRC/plates imports have registered a fall of 42% M-o-M basis and stood at 0.14 MnT in July. CRC imports have registered a fall of 33% in July whereas electrical sheets imports have remained the same M-o-M basis and stood at 0.9 MnT.

If we analyze the Y-o-Y change in flat products imports, then the same registered a fall of 61% in Jul’16 against Jul’15. Flat products imports stood at 0.64 MnT in Jul’15.

In Jul’15, HRC/plates imports stood at 0.4 MnT, CRC imports stood at 0.11 MnT and electrical sheets import stood at 0.64 MnT.