India: Flat Steel Import Ascends 11% in H1CY18

Nation’s flat steel imports registered growth of 7% in H1CY18 amid less availability of thin gauge material in domestic market.

According to recent customs data released, Indian flat steel imports witness the growth of 11% to 2.90 MnT in H1CY18 against 2.62 MnT in first half of previous year.

Meanwhile on monthly basis nation’s flat steel imports surged by 46% to 0.6 MnT in Jun’18 in comparison with 0.41 MnT in May’18.

However on yearly basis nation’s flat steel imports plunged by 36% in Jun’18 against 0.44 MnT in Jun’17.

Indian flat steel importers have booked significant quantities of HRC from Japan and South Korea from Jan-Jun’18 amid lesser availability of thin gauge material and improved demand in domestic market.

India’s HRC/Plates import volumes surged by 39% in H1CY18- India imported 1.22 MnT of HRC in H1CY18 increased by 39% as compared to 0.88 MnT in H1CY17.Meanwhile imports of Galvanized steel moved up by 16% to 0.66 MnT in Jan-Jun’18 which was 0.57 MnT in Jan-Jun’17.However imports of CRC also witness growth in H1CY18.

However imports of electrical steel decline by 7% to 0.80 MnT in Jan- Jun’18 against 0.86 MnT in first half of previous year.

Flat steel imports from South Korea doubles in H1CY18- Imports from South Korea increased twice in H1CY18 to 1.38 MnT which was 0.92 MnT in first half of CY17. However imports from Japan move down by 19% to 0.52 MnT in Jan-Jun’18 against 0.64 MnT in Jan-Jun’17.

Also imports from China witness fall by 30% to 0.31 MnT in H1CY18 which was 0.44 MnT in first half of previous year.

However Taiwan and Poland also exported flat steel to India in small quantities in H1CY18.

Import shipments at Mumbai port rose by 7% in H1CY18- Indian flat steel imports at Mumbai port rises by 7% in first six months of CY18 to 0.97 MnT which was 0.91 MnT in similar time frame of previous year.

However imports at Chennai port increased by 30% to 0.51 MnT in Jan-Jun’18 against 0.39 MnT in Jan-Jun’17.

Other major ports include JNPT at 0.33 MnT in Jan-Jun’18 against 0.21 Mnt in Jan-Jun’17.Imports at Kandla port stood at 0.25 MnT in Jan-Jun’18,higher by 19% against 0.21 in Jan-Jun’17.

However imports at Mundra port stood at 0.35 MnT in H1CY18 lower by 26% against 0.47 MnT in H1CY17.

Major flat steel importers in Jun’18-POSCO Maharastra Steel Pvt.Ltd was the major flat steel importer and has imported 64,001MT in Jun’18.Other major flat steel importers were Hyundai Steel India Private Limited, K.Amishkumar Trading Pvt.Ltd followed by Man Industries India Limited and Jindal India Limited.

Major flat steel Importers in Jun’18-

Source-Customs,SteelMint Research