India: Flat Steel Imports Drop 51% Y-o-Y in Feb’17

According to provisional data maintained with SteelMint, India imported 0.35 MnT flat steel in Feb’17 compared to 0.58 MnT in Jan’17. Thus on monthly premises, country’s flat steel imports have come down by 40%.

However on yearly premises, India’s flat steel imports have fallen considerably 51% in Feb’17. In Feb’16, India imported 0.71 MnT flat steel. Flat steel imports to India have reduced this fiscal amid imposed trade barriers like MIP, provisional anti-dumping duty and safeguard duty.

Out of 0.35 MnT flat steel imported to India in Feb’17, 40% share was of HR coils. In Feb’17, India imported 0.14 MnT HRC (CH 7208) against 0.2 MnT in Jan’17. Similarly imports of Galvanised coated flat products (CH 7210 & 7212) have also witnessed decrease in Feb’17.

Indian flat steel imports : Feb’17 vs Jan’17

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Provisional data
Source: SteelMint Stats

Mumbai port accounted for largest share of Indian flat steel imports in Feb’17 – In Feb’17, 0.13 MnT (37% share in total Feb’17 imports) flat steel was imported at Mumbai port. Other major ports were – Chennai (0.08 MnT) and Mundra port (0.06 MnT).

South Korea was the major source of Indian flat steel imports in Feb’17 – South Korea accounted for the largest share of 34% of Indian flat steel imports in Feb’17. Other major flat steel exporting countries to India in Feb’17 were – China (0.084 MnT), Japan (0.079 MnT).

Party-wise Indian flat steel imports in Feb’17 – Welspun Corp remained India’s largest flat steel importer in Feb’17 followed by Hyundai Steel, Uttam Galva Steels and POSCO Maharastra.

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Provisional data
Source: SteelMint Stats