India: Finish Long Steel Imports Climb 49% in September

Finish long Steel (Bar and Rod) imports in India moved up sharply in Sep’18. TATA Steel Ltd remained the largest importer, as per recent released data by Indian customs.

As per data maintained by SteelMint stats, finish long steel imports in India registered at 46,456 MT in Sep’18 as against 31,087 MT in Aug’18, up by 49.43% M-o-M. In line on yearly premises it increased by 68.18% as against 27,622 MT in Sep’17.

TATA Steel Limited stood as the largest importer in Sep’18 with a contribution of 18,258 MT (39.30%), while remaining material was imported in small parcels through the western & southern India based buyers.

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).

Commodity wise Rebar imports were registered at 27,009 MT (elongated by around 101%) followed by Wire Rod at 13,710 MT (up by 3%) & Structure registered at 5,737 MT (up by 34%), M-o-M basis.

— The major imports of Finish Long Steel registered at west and south region – JNPT – 13,708 MT (+9.34%) followed by Chennai port i:e; 10,954 MT (29%) and Paradeep Port – 11,603 MT in Sep’18.

— Further in Sep’18 the major Imports in India was made through the Thailand at 13,578 MT (+565%) against 2,042 MT in Aug’18, followed by China at 10,861 MT (+12%) against 9,715 MT in Aug’18 and South Korea – 6,775 MT (+79.5%) against 3,774 MT in Aug’18.

— As per reports in Sept’18, Indian govt is planning to raise import duty on steel from 5-12.5% to 15% in order to cut down imports and support INR

Finish Long Steel Importers in India- (Sep’18)

Quantity in MT
Source-SteelMint Stats.