As per the recent data released by customs, Indian flat steel imports inched down by 1% and stood at 1.55 MnT in Q1FY’20 as compared to 1.56 MnT in Q4FY’19.
Indian based stockists booked few quantities of HRC mainly from Korea and Japan in the month of Apr and May’19 since landed cost of HRC was cheaper than domestic HRC prices. Last offers from Japanese and Korean mills was around USD 525-535/MT CFR basis for May-June shipments.
However towards the mid June’19 Indian flat steel imports have come to standstill amid ongoing discussions on safeguard duty. As per reports, the Indian steel industry is seeking a safeguard duty of 25% on ad-valorem on a wide range of steel products in order to compete with increase in imports. However clarity/announcement is awaited.
Meanwhile on monthly premise import volumes witnessed an increase by 10% at 0.55 MnT in Jun’19 which was 0.5 MnT in May’19.
However on yearly basis nation’s flat steel imports fell by 8% in Jun’19 as against 0.6 MnT in Jun’18.
HRC/Plate import volumes edge up by 3% Q-o-Q in Q1FY20- Volume of HRC/Plate imports to India moved up by 3% in first quarter of FY20 to 0.62 MnT as compared to 0.6 MnT in previous quarter.
Meanwhile imports of electrical steel decline by 12% in Q1FY20 to 0.38 MnT which was 0.43 MnT in previous quarter.
However imports of Galvanized steel up by 3% and CRC fell by 7% Q-o-Q basis in Q1FY20.
Imports from South Korea reduce by 8% in Q1FY’20- Flat steel import volumes from South Korea down by 8% at 0.67 MnT in Q1FY’20 against 0.73 MnT in Q4FY’19.
Import volumes from Japan increased by 23% to 0.32 MnT in Q1FY’20 which was 0.26 MnT in Q4FY’19.
However imports from China stood at 0.23 MnT in Q1FY’20 surged by 21% as compared to 0.19 MnT in the fourth quarter of preceding fiscal.
Flat steel imports at Mumbai port fell by 2% in Q1FY’20- Flat steel imports at Mumbai port stood at 0.59 MnT in Q1FY’20 marginally down by 2 % as compared to 0.6 MnT in the last quarter of previous fiscal.
However imports at Chennai port witnessed an increase by 13% to 0.35 MnT in Q1FY’20 as against 0.31 MnT in Q4FY’19.
However imports at JNPT plunged by 22% on quarterly basis in Q1FY’20 to 0.14 MnT as against 0.18 MnT in Q4FY’19.
Meanwhile import volumes at Kandla port slashed down by 25% to 0.12 MnT in Q1FY’20 in comparison to 0.16 MnT in Q4FY’19.
Party-Wise Flat Steel Importers in Jun’19
| India Finish Flat Import June’19 | |||
| Flat Product | Importer | Quantity in MT | |
| FLAT-HR(CH-7208) | Jindal Saw Limited | 18,398 | |
| Welspun | 17,079 | ||
| Ratnamani Metals And Tubes Ltd | 10,992 | ||
| Vestas Wind Technology India Private Limited | 9,668 | ||
| Others | 1,70,768 | ||
| FLAT-CR(CH-7209) | Standard Retail Private Limited | 9,580 | |
| Shree Krishna Steels | 2,448 | ||
| Baosteel India Company Private Limited | 2,173 | ||
| Ashok Leyland Defence Systelimited | 2,125 | ||
| Others | 47,806 | ||
| GP/GC(CH-7210) | Colorshine Coated Private Limited | 7,357 | |
| Kvr Sales Corporation | 5,660 | ||
| POSCO India | 5,642 | ||
| Avk Ispat Pvt Ltd | 3,772 | ||
| Others | 87,076 | ||
| CR/HR-COIL(CH-7211) | Ifb Industries Ltd | 163 | |
| Exedy India Limited | 113 | ||
| Jm Frictech India Pvt Ltd | 100 | ||
| Kern Liebers India Pvt Ltd | 44 | ||
| Others | 485 | ||
| Galvanished coated(CH-7212) | Aafreen Trading Co | 503 | |
| Golkonda Engineering Enterprises Ltd. | 302 | ||
| Dongkuk Steel India Private Limited | 257 | ||
| Metal One Corporation India Private Limited | 223 | ||
| Others | 1,961 | ||
| Electrical steel(CH-7225) | Welspun | 49,970 | |
| Thyssenkrupp Electrical Steel India Pvt. Ltd. | 10,160 | ||
| Nlmk India Service Center Private Limited | 6,196 | ||
| Man Industries India Limited | 4,838 | ||
| Others | 74,760 | ||
| Grand Total | 5,50,619 | ||
Source: SteelMint Research
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