Indian bar and rod imports dipped for last two months and steel producers are quite happy with the steps taken by government to restrict the flow of imported steel from various countries for the last one year.
As per customs data available with SteelMint, total Indian bar and rod import decreased by about 25% that is about 54,500 MT in Nov’16 as compared to Oct’16. The import has fallen consecutively for the last two months. In the first eight months (Apr-Nov) of FY17, import of bar and rod stood at 6,83,300MT.
Indian steel producers are also seeing better opportunity to exports steel across globe in the current market scenario. Although, exports of long products from India is very small in numbers compare to Flat products.
Also to be noted that on 2nd 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 and MIP has been removed from these particular code/chap.
Bar and rod import to India during Apr-Nov’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% |
| Nov’16 | 21,600 | 11,700 | 3,300 | 1,300 | 4,700 | 11,900 | 54,500 | -25% |
| Apr-Nov’16 | 2,43,800 | 1,25,600 | 19,400 | 14,300 | 1,45,100 | 1,35,100 | 6,83,300 |
Quantity in MT, provisional data
Source: Custom data, SteelMint Research
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