Based on Port data analysis run by SteelMint, import of Bar & Rod to India has touched 100,000 MT in Dec’14.
In order to resove issues related to rising Bar & Rod imports, Indian government had imposed BIS norms on certain imported products such as Rebar & Wire rod on 7 Nov’14 and 4 Dec’14 respectively. These steel products are being dumped in India continuously.
Meanwhile, many market participants believe that imported Bar & Rod is restricted in India after BIS norms were imposed recently. However, the material continues to come in, based on the Dec’14 import data analysed by SteelMint, about 96,135 MT of Bar & Rod has so far been imported; out of which, 61,373 MT came from China.
Import of Bar & Rod in Dec’14 (1-9 Dec’14)
| Country | (CH-7228) | (CH-7214) | (CH-7213) | (CH-7227) | (CH-7217) | Total |
| China | 6,614 | 25 | 1,100 | 37,730 | 15,904 | 61,373 |
| Slovenia | 21,388 | 0 | – | – | – | – |
| Others | 2,573 | 5,490 | 1,895 | 2,198 | 1,218 | 34,762 |
| Total | 30,575 | 5,515 | 2,995 | 39,928 | 17,122 | 96,135 |
Quantity in MT
Source: SteelMint Research
An importer based in Mumbai stated that about 30,000 MT Rebar is lying at various Indian ports awaiting clearance and about 70,000-80,000 MT Wire rod is lying at Mumbai Port alone.
In Mumbai, Rebar (12 mm) is being offered at around INR 34,000-34,500/MT; has gone up by INR 800/MT W-o-W. While, imported offers are in the range of INR 32,500-33,000/MT ex-plant (Excise & taxes extra).
China to announce Export Policy on 18 Dec’14
As per sources, Chinese government is likely to announce rebate on export of Steel, which may not be in the favor of Chinese steel exporters.
Total Imports of Bar & Rod till Oct’14
| Month | Alloy Steel | M-o-M | Non-Alloy Steel | M-o-M | Total | M-o-M |
| Apr’14 | 21,560 | 0 | 25,210 | 0 | 46,770 | 0 |
| May’14 | 32,070 | 49% | 34,580 | 37% | 66,650 | 43% |
| Jun’14 | 8,230 | -74% | 45,970 | 33% | 54,200 | -19% |
| Jul’14 | 14,380 | 75% | 73,090 | 59% | 87,470 | 61% |
| Aug’14 | 44,040 | 206% | 64,450 | -12% | 108,490 | 24% |
| Sep’14 | 23,490 | -47% | 131,500 | 104% | 154,990 | 43% |
| Oct’14 | 61,600 | 162% | 142,300 | 8% | 203,900 | 32% |
| Total | 205,370 | – | 517,100 | – | 722,470 | – |
Quantity in MT
Source: JPC – Ministry of Steel
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