Indian Flat Steel Imports Fall 11% in Q4 FY18

According to recent customs data released, Indian flat steel imports were recorded at 1.30 MnT in Q4 FY18 (Jan-Mar’18). The import volumes are lower by 11% Q-o-Q compared to 1.46 MnT in previous quarter. Also on yearly basis, quarterly imports have moved down by 5% as it was 1.37 MnT then.

On monthly basis, imports grew by 22% in Mar’18 against a month ago.Nation has imported 0.45 MnT of flat steel in Mar’18 as compared to 0.37 MnT in Feb’18. On yearly basis nation’s flat steel imports inched up by 5% in Mar’18 against 0.43 MnT in Mar’17.

India’s HRC import volumes up by 13% in Q4 FY18 – India has imported 0.54 MnT of HRC in Q4 FY18,moved up by 13% as compared to 0.48 MnT in Q3 FY’18. Imports of CRC was down by 22% and that of Galvanised steel was down by 23% in Q4 FY18. Announcement of BIS standards and its imposition has limited imports of coated steel products to India in last quarter of FY18.

Fig in MnT
Source: SteelMint Research

Flat steel imports from South Korea increased 16% in Q4 FY18- In Q4 FY18’18,South Korea exported 0.65 MnT of flat steel to India up by 16% against 0.56 MnT in previous quarter.

Other major flat steel exporting countries to India were Japan at 0.23 MnT, stable against 0.22 MnT followed by China at 0.14 MnT, down 64% Q-o-Q. Imports from Vietnam fell 67% in the quarter under consideration.

POSCO Maharashtra was the largest flat steel importer in Mar’18- POSCO Maharashtra Steel Pvt.Limited was the major flat steel importer and has imported 60,952 MT in Mar’18.Other major flat steel importers were Hyundai Steel India Limited ,Welspun Corp.Ltd ,Hyundai Steel, Kredence Multi Trading Ltd and China Steel Corporation India Private Limited.

Top 10 major importers in Mar’18

Fig in MT
Source: SteelMint Research,Customs