India’s Imports of Galvanised Pre Coated Sheets from Vietnam Increase Rapidly

India’s imports of galvanized pre-coated sheets from Vietnam has increased sharply in first seven months of 2017 according to data released by Indian customs.

According to the data, India imported around 184,216 MT of pre coated galva sheets till Jul’17. Top exporter remains China followed by South Korea. Vietnam has become the third largest exporter in 2017 with a total exports of over 40,958 MT which is 22% share in India’s total Galvanised Pre coated sheets in FY18 (till Jul’17).

As per provisional government data,  India’s production for sale of color coated sheets stood at 0.43 MnT during Apr-Aug’17, out of which 0.17 MnT was produced by JSW Steel Limited.

Why Vietnam?
Vietnam is turning out to be a hot sourcing option for Indian importers owing to competitive price and zero import duty for Vietnamese cargo against trade pact signed between India and ASEAN countries. This pact allows import of steel at zero duty. Imports of coated steel from other countries attract a definitive anti dumping duty imposed for five years at USD 822/MT (except Japan and Korea, for which duty is zero under comprehensive free trade agreement).

Quality Control Order
Government may bring quality control order under for pre-coated galvanized sheets, which means any manufacturer or importer selling these sheets in India would need to get themselves registered with Bureau of Indian standards (BIS).

Quantity in MT
Source-SteelMint Research

India Imports Galvanised Pre Coated Sheets (HS Code: 72107000) during Jan-Jul’17

Quantity in MT
Source: Customs