India: Bar and Rod Imports Decline in Aug’17

Indian Bar and Rod imports drifted downwards in Aug’17 by 6%, the recent release data by Indian customs showed.

The imports under the Alloy Bar & Rod and Non Alloy Bar & Rod in the month of Aug’ 17 reported at 71,631 MT against 76,213 MT in Jul’17, although the quantity remained less.

Further, the imports sunk significantly in Aug’17 by 13.82% against 83,125 MT in Aug’16.

If yearly calculation done, the imports fall by 36% to 5.43 MnT in the first 8 months of CY17 (Jan-Aug’17) against 8.48 MnT in same preceding CY16.

Major imports were done under the CH-7228 (Alloy Bar and Rod) followed by CH7217 (Wire of Non Alloy Steel).

Total Finished Steel Imports:

In the month of Aug’17 India became the net importer of total finished steel and imported 0.898 MnT scaling up by 11.13% against 0.798 MnT in Jul’17. On yearly basis imports jumped by 50.87% against Aug’16 at 0.423 MnT.

Note: The Imports of bar and Rod covered under the 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) and Wire of Non alloy Steel (CH-7217).