Indian Bar and rod imports fall marginally by 2% M-o-M in May’17 to 64,316 MT against 65,866 in Apr’17, according to customs data maintained by SteelMint statistics.
On Y-o-Y, drastic fall is being gauged of about 42% compared to 111,973 MT in May’16.
Imports have seen a rigorous downfall since Nov’16 due to government’s safety measures by implementing provisional anti dumping duty on imports of Alloy and Non Alloy long Steel products coming under HS code 7213 and 7227.
TATA Steel remained the largest importer consecutively for the third month of 2017 as during May’17 the company imported about 25,969 MT long steels following 10,800 MT in Apr & about 16,930 MT in Mar’17.
In May’17, the largest exporter to India was China with total quantity around 18,280 MT, followed by Thailand at 12,933 MT and Singapore at 12,232 MT.
Total Finished Steel Imports:
India’s total finished steel imports surged by whopping 10.7% to 0.55 MnT in May’17 against 0.50 MnT in Apr’17. On yearly basis also, nation’s imports was up by 2.4% in May’17 against May’16.
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