Bar and rod import to India stood at an average of 1.5 MnT during Jan-Nov’15, out of which 50% comprises of wire products.
With the news of safeguard duty imposition by Indian government on steel products, importers were less interested to take position in Nov’15.
Bar and rod import fell by 43% in Nov’15 compared to previous month, as per SteelMint’s data analysis. Major fall of 45% has been seen in wire products among total bar and rod import of about 1.5 MnT during Jan-Nov’15. Out of the total import, 50% of material was wire steel products at Indian port.
However, import had risen significant by 39% in Oct’15 against Sept’15.
Anticipation of safeguard duty imposition
Few primary players like JSW Steel had already applied for the imposition of safeguard duty on wire rod about 2-3 months back. However, the government has recently given a signal for safeguard duty imposition on semis and flat steel products excluding HRC (safeguard duty is already imposed on it) in the current month.
Currently, export offers in China are within USD 255-260/MT, FoB for January shipments for 16-25 mm chromium added rebar and USD 262/MT, FoB China main port for wire rod.
Bar and rod import to India during Jan-Nov’15
|
Month |
Alloy bar & rod (CH-7228) | Non-alloy bar & rod (CH-7214) | Non-alloy bar & rod coil (CH-7213) | Other Non-alloy bar & rod (CH-7215) | Alloy wire (ch-7227) | Non-alloy wire (CH-7217) | Total |
M-o-M |
| Jan’15 | 34,868 | 24,632 | 6,851 | 1,650 | 82,145 | 9,383 | 159,529 | – |
| Feb’15 | 80,361 | 13,254 | 7,137 | 2,054 | 85,903 | 11,301 | 200,013 | +25% |
| Mar’15 | 26,994 | 13,270 | 3,247 | 1,514 | 57,846 | 10,703 | 113,577 | -43% |
| Apr’15 | 31,398 | 21,331 | 7,273 | 2,353 | 32,524 | 10,769 | 105,647 | -7% |
| May’15 | 22,863 | 7,367 | 6,173 | 2,038 | 34,366 | 13,142 | 85,952 | -19% |
| June’15 | 37,910 | 23,975 | 9,123 | 1,840 | 73,798 | 11,390 | 158,037 | +84% |
| July’15 | 22,938 | 26,602 | 2,926 | 2,737 | 71,347 | 12,954 | 139,504 | -12% |
| Aug’15 | 34,125 | 12,861 | 3,381 | 2,318 | 107,456 | 11,925 | 172,066 | +23% |
| Sep’15 | 43,155 | 14,788 | 3,406 | 1,559 | 97,045 | 15,793 | 175,746 | +2% |
| Oct’15 | 62,271 | 35,470 | 7,760 | 1,035 | 122,524 | 14,494 | 243,554 | +39% |
| Nov’15 | 44,739 | 7,501 | 6,731 | 974 | 67,445 | 11,853 | 139,242 | -43% |
Quantity in MT
Source: SteelMint Research
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