Finish Long Steel Imports in India registered consequent fall in last couple of month’s and in fresh data the imports have declined by about 9% M-o-M in Apr 2018.
As per custom data maintained by SteelMint stats, Finish long steel imports in India registered at 39,362 MT in Apr’18 against 43,432 MT in Mar’18, down by 9.37% M-o-M. The imports during Mar’18 also slump by about 9.46% with 43,432 MT against 47,971 MT in Feb’18.
Under Finish Long commodities following HS Codes has been considered – Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).
Declining Imports of Finish Long Steel could be attribute average demand in domestic market amid stability in prices in major import markets like in South region – Chennai where the Rebar prices have been constant at around INR 41,000/MT in the month of Apr’18.
Another key factor behind falling imports seems to be rising Indian steel production which has ease supply domestically. For instance, Finish long steel production in India have registered higher ever at 4.09 in Mar’18 by Indian large & medium/small scale producers against an average monthly production of around 3.70-3.90 MnT during calender year 2017-2018.
— The major exports in India during Apr’18 was recorded through Thailand at 13,384 MT up by around 5% being followed by China at 9,669 MT up by around 4% and Malaysia – 4,115 MT up more than 5% on monthly basis.
— Commodity wise Rebar being the major imported material during Apr’18 and registered with 20,126 MT (down by 13%) followed by Wire Rod at 15,990 MT (down by 6%) & Structure registered at 3,246 MT (down by 3%) M-o-M basis.
— Port Wise unloading acquired the largest container port in India i:e; Jawaharlal Nehru Port (JNPT), also known as Nhava Sheva registered at 14,562 MT (up by 4.71%) followed by Chennai 7,655 MT (down by 13.8%) & Kattupalli port which is also located near to Chennai port around 30 KM registered at 6,465 MT (down by 64%).
Quantity in MT
Source-SteelMint Stats, Custom.
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