India: Finish Flat Steel Imports Increased by 27% in Apr’20

As per the latest data released by the customs, India’s finish-flat imports stood at 0.38 MnT in Apr’20 up by 27% on a monthly basis as against 0.30 MnT in Mar’20.

—Earlier in the month of Feb’20 SteelMint reported that a major South Korean steel manufacturer booked around 10,000 MT of HRC ( SAE1006 rerolling grade) to India at USD 500-503/MT CFR basis.

–Also Mumbai based stockists booked around 10,000 MT of HRC at USD 505-510/MT CFR India. All bookings were for April deliveries.

–Meanwhile, on a yearly basis, import volumes slashed by 24% in Apr’20 in contrast with 0.50 MnT in Apr’ 19.

Commodity wise imports-
 —The nation’s HRC/Plates import witnessed a rise by 8% M-o-M basis to 0.13 MnT in Apr’20 when compared with 0.12 MnT a month ago.

–Indian electrical steel imports jumped to 0.15 MnT in Apr’20 in contrast with 0.08 MnT in the previous month.

–The galvanized steel imports were consistent at 0.08 MnT in Apr’20 over Mar’20.

–Meanwhile, imports of CRC remained unchanged at 0.02 MnT in Apr’20 as against Mar’20.

Country-wise Imports
 —The nation’s imports from South Korea ascended by 17% M-o-M basis to 0.21 MnT in Apr’20 over 0.18 MnT in the previous month.

–India’s finish-flat steel imports from China climbed to 0.07 MnT in Apr’20 as compared with 0.02 MnT in Mar’20.

–However, imports from Japan increased by 25 % M-o-M basis to 0.05 MnT in Apr’20, which was 0.04 MnT in the preceding month.

Port-Wise Imports
–Finish-flat steel imports at Mumbai port declined by 8% to 0.11 MnT in Apr’20 over 0.12 MnT in Mar’20.

–Imports at Chennai increased by 14% to 0.08 MnT in Apr’20 as compared with 0.07 MnT in Mar’20.

–Meanwhile, imports at Kandla port surged multifold to 0.09 MnT in Apr’20 in contrast with 0.01 MnT in the preceding month.

–Also, imports at Mundra port stood at 0.03 MnT in Apr’20 consistent over Mar’20. Meanwhile, imports volume at JNPT port was 0.03 MnT, and Dahej 0.01 MnT in Apr ’20.

Party-Wise HRC Importers in Apr’20-
—POSCO stood as a major HRC importer and booked around 34,219 MT of HRC in Apr’20.

–Second major importer was Ratnamani Metals and Tubes ltd at 12,553 MT followed by ArcelorMittal Nippon steel at 11,814 MT and Hariyana ship breakers LTD at 10,272 in Apr’20

Outlook –  With decline import bookings due to lock-down and dull domestic demand, Indian flat steel imports are expected to move down in May’20.