India-Flat Steel Imports Shrink Further 11% M-o-M in Oct’17

According to provisional customs data maintained with SteelMint ,Indian flat steel imports witness the decline of 11% M-o-M basis in Oct’17. Nation has imported 0.49 MnT of flat steel in Oct’17 which was at 0.55 MnT in Sep’17.

On yearly basis,Indian flat steel imports have increased by 40% against 0.35 MnT in Oct’16.

During the time span of Jan-Oct’17 nation’s finish flat imports have reduced by 2.4% to 5.12 MnT compared to 5.25 MnT in similar time frame previous year.

India’s Galvanised steel import increased 70% M-o-M in Oct’17-In Oct’17,India imported 0.14 MnT of HRC (CH 7208) which tumbled by 42%,M-o-M basis in comparison to 0.24 MnT in Sep’17.Imports of CRC remained stable and electrical steel showed decline in the month of Oct’17.

However imports of galvanized steel saw the growth of 70% on monthly basis to 0.17 MnT in Oct’17 against 0.10 MnT in Sept’17. This is India’s highest monthly import quantity of Galvanised steel so far in CY17.

Flat steel imports at Kandla & Mundra port increase in Oct -Mumbai port accounted for 0.20 MnT of flat steel imports in Oct’17 which reported the fall of 13% against 0.23 MnT in Sep’17. Other major Indian ports which accounted for share in Indian flat steel imports was Chennai at 0.08 MnT ,Mundra at 0.10 MnT and Kandla at 0.04 MnT in Oct’17. Flat steel imports at Kandla & Mundra ports increased by 33% and 67% respectively in Oct’17.

South Korea continues to remain the major flat steel exporter-South Korea was the major flat steel exporter to India despite fall in import volumes by 38% to 0.16 MnT in Oct’17 against 0.26 MnT in Sep’17. However import volume from China rose by 33% to 0.16 MnT in Oct’17.Other major flat steel exporters to India in the month of Oct’17 were Japan (0.06 MnT) and Russia (0.01 MnT).

However in first ten months (Jan-Oct’17) India imported 1.88 MnT (36.85% share of total flat steel imports) flat steel from South Korea followed by China which accounted for 24.43% and Japan at 19.91%.

Jindal SAW remained the largest importer in Oct’17-Jindal SAW Limited was the major flat steel importer and has imported 55,232 MT in Oct’17.Other major flat steel importers were Man industries India Ltd,POSCO Maharashtra ,Hyundai Steel India Pvt.Ltd and National Steel and Agro Industries Ltd.

Quantity in MT
Source-SteelMint Research