Indian finished-flat steel imports stood at 0.34 MnT in May’20, down by 11% on a monthly basis as against 0.38 MnT in Apr’20.
Absence of domestic demand amid extended lockdown announced to fight against COVID-19 outbreak resulted in lower imports in May’20. Thus, the Indian mills aggressively exported mainly to China and Southeast Asian nations.
— Meanwhile, on a yearly basis, import volumes declined by 32% in May’20 in contrast with 0.50 MnT in May’19.
Commodity wise imports-
|
Sub Commodity |
May’20 | Apr’20 | M-o-M (change in %) | May’19 | Y-o-Y (change in %) | Apr_May’20 | Apr-May’19 |
Change in % |
| HRC/Plate | 0.15 | 0.13 | 15 | 0.21 | -29 | 0.28 | 0.39 | -28 |
| Electrical Steel | 0.12 | 0.15 | -20 | 0.12 | 0 | 0.27 | 0.23 | 17 |
| Galvanised Steel | 0.06 | 0.08 | -25 | 0.13 | -54 | 0.14 | 0.28 | -50 |
| CRC | 0.02 | 0.02 | 0 | 0.03 | -33 | 0.04 | 0.08 | -50 |
| Others | 0 | 0 | 0 | 0.01 | -100 | 0 | 0.02 | -100 |
| Grand Total | 0.34 | 0.38 | -11 | 0.5 | -32 | 0.72 | 1 | -28 |
Source: SteelMint Research
Country-wise Imports
— The nation’s imports from South Korea fell significantly by 29% m-o-m basis to 0.15 MnT in May’20 over 0.21 MnT in the previous month. Meanwhile, imports from China increased to 0.08 MnT in May’20 as compared with 0.07 MnT in Apr’20.
Port-Wise Imports
— Finish-flat steel imports at Mumbai increased by 9% to 0.12 MnT in May’20 over 0.11 MnT in Apr’20 followed by Chennai at to 0.03 MnT in May’20 plunged by 63% as compared to 0.08 MnT a month ago. Meanwhile, imports at Kandla declined by 22% to 0.07 MnT in May’20 in contrast with 0.09 MnT in the preceding month.
Party-Wise HRC Importers in May’20-
— POSCO stood as a major HRC importer and booked around 39,295 MT of HRC in May’20. The second major importer was Jindal Saw Ltd at 28,517.50 MT followed by Welspun at 16,254 MT and Standard Retail Private Limited at 11,614.3 in May’20.
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