India Finished long steel (non-alloy) imports stood at 0.43 MnT in the FY’20, down by 12.24% against 0.49 MnT in FY’19, as per the custom data maintained with SteelMint. Under finish long steel commodities, following HS codes have been considered – Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).
Factors could be attributed towards low import volume as limited demand was observed across the region, followed by cheaper domestic prices as Rebar & Wire rod prices by around 14% & 17% respectively on Y-o-Y basis in FY’20.
— Rebar imports were recorded at 0.24 MnT, down around 8% from 0.26 MnT in FY’19.
— Wire rod stood at 0.13 MnT, diminished by 23.5% against 0.17 MnT in FY’19.
— Structure imports marked at 0.06 MnT, which remained stable as compared with FY’19.
Load Country wise
— Singapore stood as the top exporter of Finished long steels to India at 0.11 MnT in FY’20, surged around 38% against 0.08 MnT in FY’19.
— China exports to India were registered at 0.07 MnT in FY’20, decline by 36.36% against 0.11 MnT in FY’19.
— South Korea, the third largest Finished long steel exporter country registered volumes at 0.08 MnT in FY’20, stable against the previous financial year.
Unload Port wise
— Kattupalli port stood as top unloading port with 0.10 MnT in FY’20, up by 11.11% as compared to 0.09 MnT in FY’19.
— Imports in JNPT port registered 0.09 MnT, plunged by 35.7% from 0.14 MnT in FY’19.
— While in Chennai port it marked at 0.08 MnT, declined by 33.33% as compared to 0.12 MnT in FY’19.
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