India: Flat Steel Imports Jump 13% M-o-M in May’17

According to provisional customs data maintained with SteelMint ,India imported 0.43 MnT flat steel in May’17 against 0.38 MnT in Apr’17. Thus, nation’s flat steel imports saw the jump of 13%, on M-o-M basis in May’17.

However on yearly premise,India’s flat steel imports have registered the drastic fall of 48% in May’17. In May’16,India imported 0.29 MnT flat steel.

In May’17,India imported 0.14 MnT HRC (CH 7208) in May’17 against 0.12 MnT in Apr’17. Similarly other flat product imports like GP/GC have witnessed rise in imports in May’17.However CRC and electrical sheets witness decline in May’17.

As SteelMint had reported in end of Apr’17 that Indian flat steel importers resume bookings on falling global prices.

Recently, market participants also mentioned that around 40,000 MT of HRC has been booked from Japan and around 20,000 MT of HRC has been booked from South Korean steel maker -Hyundai Steel a couple of weeks back for Jul’17 deliveries.

Mumbai port imported 0.19 MnT of flat steel in May’17 -Mumbai port imported 0.19 MnT of flat steel in May’17 against 0.12 MnT in Apr’17.It has accounted for largest share of imports in May’17 followed by Chennai at 0.07 MnT and Mundra at 0.05 MnT.

South Korea remained major flat steel exporter to India in May’17-
South Korea was the major flat steel exporter and has exported 0.17 MnT in May’17 against 0.16 MnT in Apr’17.Other major exporters were Japan (0.08 MnT) and China at (0.08 MnT).

Posco Maharashtra is the largest flat steel importer in May’17- 
Posco Maharsatra remained the India’s major flat steel importer in May’17 followed by Hyundai Steel Corp,Welspun Corp Ltd. and China Steel Corporation Pvt Ltd.

Source-SteelMint Research