Bar and rod imports to India in Sept’16 significantly surge to 300% for HS code 7214.
As per customs data available with SteelMint, total Indian bar and rod import increased by about 39% to about 1,15,600 MT in Sep’16 as compared to Aug’16.
During first six months (Apr-Sep) of FY17, import of bar and rod crossed 5,00,000 MT.
If we analyze for particular code/chapter i.e 7214 (non-alloy bar and rod) import significantly surge upto 300% in Sep’16 as compared to previous month.
Despite following continuous protection measure like MIP taken by government, import of bar and rod continue to remain at higher level.
It is to be noted that the government has extended MIP second time for another 2 months on 66 steel products which was scheduled to expire on 4 Oct’16 and now valid till 4 Dec’16, including bar and rod under chapter/HS code 7213, 7214 and 7227 with price in the range of USD 449-455/MT.
Bar and rod import to India during Apr-Sep’16
| Month | Alloy bar and rod (CH-7228) | Non Alloy – bar and rod(CH-7214) | Non Alloy – bar and rod-Coil(CH-7213) | Other Non Alloy – bar and rod (CH-7215) | WIRE of alloy Steel(ch-7227) | WIRE of Non alloy Steel(CH-7217) | Grand Total | M-o-M Change |
| Apr’16 | 41,300 | 18,300 | 2,300 | 3,000 | 29,300 | 13,300 | 1,07,500 | |
| May’16 | 40,300 | 22,000 | 2,200 | 2,200 | 20,600 | 24,600 | 1,11,900 | +4% |
| June’16 | 21,000 | 6,600 | 3,100 | 1,900 | 12,300 | 38,900 | 83,800 | -25% |
| July’16 | 20,800 | 13,900 | 1,500 | 700 | 12,000 | 5,000 | 53,900 | -36% |
| Aug’16 | 30,500 | 7,100 | 1,900 | 1,500 | 28,600 | 13,500 | 83,100 | +54% |
| Sep’16 | 36,400 | 28,500 | 3,700 | 2,000 | 29,600 | 15,400 | 1,15,600 | +39% |
| Apr-Sep’16 | 1,90,300 | 96,400 | 14,700 | 11,300 | 1,32,400 | 1,10,700 | 5,55,800 |
Quantity in MT, provisional data
Source: Custom data, SteelMint Research
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