Indian bar and rod imports significantly decreased especially for HS code 7227 by 72% in Oct’16 as against Sep’16.
As per customs data available with SteelMint, total Indian bar and rod import decreased by about 37% that is about 73,000 MT in Oct’16 as compared to Sep’16.
During first seven months (Apr-Oct) of FY17, import of bar and rod crossed 6,00,000 MT and close to 60% as most of the imported material comes from China. .
The import significantly fell by 73% to about 8,000 MT in Oct’16 as compared to previous month for particular code/chapter i.e 7227 (wire of alloy steel).
It is also to be noted that on 2 Nov’16, government imposed anti-dumping duty on wire rod of Alloy or Non-Alloy steel under chap/code 7213 and 7227 especially from China for six months from the date of notification issued.
Bar and rod import to India during Apr-Oct’16
| Month | Alloy Bar and Rod (CH-7228) | Non Alloy – Bar and Rod (CH-7214) | Non Alloy – Bar And Rod-Coil(CH-7213) | Other Non Alloy – Bar and Rod (CH-7215) | Wire of alloy Steel(ch-7227) | Wire of Non alloy Steel(CH-7217) | Grand Total | M-o-M Change |
| Apr’16 | 41,300 | 18,300 | 2,300 | 3,000 | 29,300 | 13,300 | 1,07,500 | |
| May’16 | 40,300 | 22,000 | 2,200 | 2,200 | 20,600 | 24,600 | 1,11,900 | +4% |
| June’16 | 21,000 | 6,600 | 3,100 | 1,900 | 12,300 | 38,900 | 83,800 | -25% |
| July’16 | 20,800 | 13,900 | 1,500 | 700 | 12,000 | 5,000 | 53,900 | -36% |
| Aug’16 | 30,500 | 7,100 | 1,900 | 1,500 | 28,600 | 13,500 | 83,100 | +54% |
| Sep’16 | 36,400 | 28,500 | 3,700 | 2,000 | 29,600 | 15,400 | 1,15,600 | +39% |
| Oct’16 | 31,900 | 17,500 | 1,400 | 1,700 | 8,000 | 12,500 | 73,000 | -37% |
| Apr-Oct’16 | 2,22,200 | 1,13,900 | 16,100 | 13,000 | 1,40,400 | 1,23,200 | 6,28,800 |
Quantity in MT, provisional data
Source: Custom data, SteelMint Research
Leave a Reply