India: Flat Steel Imports Increase by 6% M-o-M in Nov’17

Indian flat steel imports moved up by 6% on monthly basis to 0.52 MnT in Nov’17. HRC import volumes surged by 36% M-o-M to 0.19 MnT in Nov’17.

According to provisional customs data maintained with SteelMint ,Indian flat steel imports registered the growth of 6% to 0.52 MnT on monthly premise in Nov’17 against 0.49 MnT Oct’17. Global HRC export offers fell in 2nd half of Oct’17 and remained on the lower side before resuming the levels towards end of Nov’17.

Meanwhile on yearly basis,Indian flat steel imports rose significantly by 13% in Nov ‘17 which was recorded at 0.46 MnT in Nov’16.

During the tenure of 11 months (Jan-Nov) of CY’17 nation’s finish flat imports moved down marginally by 0.7% to 5.64 MnT in comparison with 5.68 MnT in corresponding time span of previous year.

India’s HRC import volumes jumped 36% M-o-M in Nov’17-In Nov’17,India imported 0.19 MnT of HRC/Plates (CH 7208) which jumped by 36% M-o-M basis in comparison to 0.14 MnT in Oct’17. Besides this, electrical steel imports also surged by 20% to 0.18 MnT in Nov’17 against 0.15 MnT in previous month.However imports of Galvanized steel declined by 29.4% M-o-M basis to 0.12 MnT  and CRC imports fell by 33% in Nov’17.

Flat steel imports at Mundra port rose 20% M-o-M in Nov’17-Mundra port accounted for 0.12 MnT of flat steel imports in Nov’17 reporting increase of 20% M-o-M against 0.10 MnT in Oct’17. Other Indian ports which accounted for major share in Indian flat steel imports was Mumbai at 0.19 MnT followed by Chennai at 0.07 MnT, Kandla at 0.05 MnT and JNPT at 0.04 MnT in Nov’17.

Flat steel imports from South Korea increased by 19% in Nov’17 – South Korea has remained major flat steel exporter to India and accounted for 37% of share (2.08 MnT) in Jan-Nov’17 followed by China which accounted for 24.73% (1.39 MnT) and Japan at 19.46% (1.10 MnT). Other major sources were – Russia, Vietnam and Taiwan.

Meanwhile in the month of Nov’17 South Korea has exported 0.19 MnT of flat steel up by 19% on monthly basis against 0.16 MnT in Oct’17. Other major importing nations of India in the month of Nov’17 were China at 0.14 MnT , Japan at 0.08 MnT and Russia at 0.01 MnT.

Man Industries remained the largest flat steel importer in Nov’17- Man Industries Limited was the major flat steel importer and has imported 75,348 MT in Nov’17.Other major flat steel importers were POSCO Maharashtra ,Jindal SAW Hyundai Steel India Pvt.Ltd and National Steel and Agro Industries Ltd.

India Flat Steel Import in November’17

Fig in MT
Source-SteelMint Research