JPC- Steel Ministry reported 30% M-o-M decline in import of Bar & Rod in Jan’15
According to JPC’s monthly data, there was a continuous rise in import of Bar & Rod since April’14 till Dec’14.But in Jan’15, there was a sharp decline by 30% on the import as compared to the previous month. The month witnessed very low booking, perhaps the participants were skeptical over the upcoming budget.
Indian government is trying to put break on the rising of steel imports in India. Earlier on 7th Nov’14, Central Board of Excise and Customs under Ministry of Finance had issued a circular for all custom officials to restrict certain steel products to check if the imported rebar are in accordance to BIS norms.
Various Indian steel producers had also urged the Indian government to impose higher duty on import of steel in India. Currently, import duty of Bar & Rod is 5%.
According to earning press conference on 30 Jan’15 by JSW Steel, one of the company top officials said, “the quality order (issue by the Ministry of Steel, India) to comply with BIS quality standards is now implemented on TMT bars import. Earlier, it was not complied with; they were permitting the low quality steel into India. We had the requested to Central government to implement the quality order not only for these 15 products but also for other 22 products. It will ensure to avoid using inferior quality of steel. Second major point is dumping of steel in India. We also urge the government to take strong action on an immediate basis on the rising of steel import in India.”.
According to SteelMint Research, Import of Bar & Rod declined by around 44% in Jan’15 as compared to previous month. Out of the total import, China’s share is around 70% of the total Bar and Rod for the period during Dec’14 to Jan’15.
Total Imports of Bar and Rod for Dec’14 and Jan’15
|
CH-7228 |
CH-7214 | CH-7213 | CH-7215 | Ch-7227 | CH-7217 | Total |
M-o-M Change |
|
| Dec’14 | 66,998 | 24,310 | 9,906 | 2,216 | 159,117 | 23,792 | 286,341 | |
| Jan’15 | 34,867 | 24,631 | 6,850 | 1,650 | 82,145 | 9,382 | 159,528 | – 44% |
| China’s Share | 61,745 | 992 | 5,612 | 271 | 2,25,717 | 24,711 | 3,19,051 |
Note: Qty in MT
Source: SteelMint Research
Total Import of Bar and Rod since April’14
| Month | Alloy Steel | M-o-M Change | Non-Alloy steel | M-o-M Change | Total (Alloy & non-Alloy Steel Imports | M-o-M Change |
| 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% |
| Nov’14 | 140,440 | 128% | 99,200 | -30% | 239,640 | 18% |
| Dec’14 | 163,000 | 16% | 85,600 | -14% | 248,600 | 4% |
| Jan’15 | 111,580 | -32% | 62,300 | -27% | 173,880 | -30% |
| Apr’14-Jan’15 | 6,20,390 | 7,64,200 | 13,84,590 |
Note : Qty in MT
Source : JPC, Ministry of Steel
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