India: Flat Steel Imports Plunge 31% M-o-M in May’18

According to recent customs data released, Indian flat steel imports were recorded at 0.41 MnT in May’18, down by 31% on monthly basis against 0.60 MnT in Apr’18.

However on yearly basis nation’s flat steel imports moved down by 5% in May’18 against 0.43 MnT a year ago.

During first five months of CY18 ( Jan- May) nation’s flat steel imports registered the growth of 6% to 2.31 MnT which was 2.18 MnT in similar time frame of previous year.

Also fewer bookings have been concluded from Japan and South Korea however the landed cost is coming at par with domestic prices.Thus it lead to fall in import volumes.

India’s HRC/Plates import volumes decline 24% M-o-M in May’18- India imported 0.19 MnT of HRC in May’18 down by 24% as compared to 0.25 MnT in Apr’18.Imports of electrical steel decline significantly to 0.08 MnT in May’18 against 0.20 MnT in previous month.

Meanwhile imports of Galvanized steel remain stable at 0.10 MnT in May’18.However imports of CRC fell by 25% in May’18.

Flat steel imports from South Korea decline 13% in May’18- In May’18,imports from South Korea fell by 13% on monthly basis and stood at 0.21 MnT in May’18 against 0.24 MnT in Apr’18.

Other major flat steel exporting countries to India were Japan at 0.09 MnT,in May’18 down by 29% against 0.07 MnT in Apr’18 followed by China at 0.03 MnT, in Apr’18 down by 25% as compared to 0.04 MnT in preceding month.

Import shipments at Mumbai port plummet by 12% in May’18-Indian flat steel imports at Mumbai port plunged by 12% M-o-M basis to 0.15 MnT in May’18 which was 0.17 MnT in Apr’18.

However imports at Chennai port moved down by 36% on monthly basis to 0.07 MnT in May’18 against 0.11 MnT in Apr’18.

Other major ports include JNPT at 0.12 MnT in May’18 decreased by 20% 0.15 MnT in Apr’18.However imports at Mundra port stood at 0.06 MnT and Kandla at 0.03 MnT in May’18.

Major flat steel importers in May’18-POSCO Maharastra Steel Pvt.Ltd was the major flat steel importer and has imported 58,094MT in May’18.Other major flat steel importers were POSCO India Holdings Pvt. Ltd,followed by Hyundai Steel India Private Limited and Welspun Corp.Ltd.

Major Flat Steel Importers in May’18

Quantity in MT
Source- SteelMint Research