Indian Flat Steel Imports Fell by 31% Y-o-Y in H1 CY17

According to provisional customs data maintained with SteelMint ,India imported 2.62 MnT of flat steel in first half of CY’17 against 3.77 MnT in similar time frame of previous year.Thus, nation’s flat steel imports witnessed decline of 31%, Y-o-Y in  H1CY17.

However on yearly basis,India’s flat steel imports have registered decline of 20% to 0.44 MnT in Jun’17 against 0.55 MnT in Jun’16.

Although on monthly basis nation’s finish flat imports recorded the rise of 2.3% in Jun’17 against previous month.

HRC/HR plates accounted for 41% of flat steel imports in Jun’17 -In Jun’17,India imported 0.18 MnT HRC (CH 7208) against 0.14 MnT in May’17. Similarly other flat product imports like GP/GC assessed at 0.11 MnT, electrical sheets stood at 0.12 MnT and CRC at 0.01 MnT in Jun’17.

Mumbai port imported 0.17 MnT of flat steel in Jun’17 -Mumbai port accounted for 0.17 MnT of flat steel imports in Jun’17 against 0.19 MnT in May’17 followed by Chennai at 0.07 MnT and Mundra at 0.06 MnT in Jun’17.

South Korea remained major flat steel exporter to India in H1 CY17
South Korea was the major flat steel exporter and has exported 0.17 MnT in Jun’17 and in May’17as well . In H1 CY17, India imported 0.91 MnT (35% share of total flat steel imports) Other major flat steel exporters to India in H1 CY17 were Japan (0.64 MnT) and China at (0.53 MnT).

POSCO Maharashtra is the largest flat steel importer in Jun’17- 
POSCO Maharashtra remained the India’s largest flat steel importer in Jun’17 followed by Hyundai Steel Corp,Bhushan steel and Shah Steel Corporation.

Party-wise Flat Steel imports in Jun’17

Quantity in MT
Source-SteelMint Stats