Indian Bar and rod imports have gone up by 13%, M-o-M in Mar’17. However, on Y-o-Y analysis, FY17 has seen a sharp fall of 46%.
For the month of Mar’17, the import stood at 66,747 MT as compared to 59,248 MT in Feb’17. Although, total imports in FY 17 were reported at 962,695 MT against 1,767,800 in FY16.
In Mar’17, the major importer of bar & rod was TATA Steel Limited with total imports quantity at 16,930 MT. During the month, the major export country of bar & rod to India was China which exported about 22,167 MT followed by Singapore at 10,837 MT.
The, imports have seen a sharp fall in Fiscal year 2016-17 as compared to Fiscal Year 2015-16, as imports were directly influenced by the protective measure which the Indian Government have taken in order to protect the Indian Steel by Implementing the MIP’s & Anti Dumping Duty on the Various Indian Steel Commodities.
The imports include Chapter 7228, 7214, 7213, 7215, 7227, 7217
*Quantity in MT
Source: Customs; SteelMint Research
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