Indian Flat Steel Imports Plunge 16% in Aug’18

According to recent customs data released, On monthly basis nation’s flat steel imports stood at 0.49 MnT in Aug’18, plunged by 16% in comparison with 0.58 MnT in Jul’18. On yearly basis, nation’s flat steel imports slumped by 30% in against 0.7 MnT in Aug’17.

During first eight months of CY18 (Jan-Aug),nation’s flat steel imports stood at 3.98 MnT higher by 20% against 3.32 MnT in similar time frame of previous year.

Major exporting nations like Japan, South Korea and China are focusing on domestic sales over exports amid strong demand in their domestic market thus having limited allocations for export in July.This has limited their export volumes..On the other hand, Indian mills had rolled over domestic flat steel prices in July amid dull demand.

Indian HRC imports decline by 30% M-o-M in Aug’18- Indian HRC imports fell by 30% M-o-M to 0.19 MnT as compared to 0.27 MnT in previous month. However, India imported 0.12 MnT of electrical in Aug’18 less by 14% M-o-M as compared to 0.14 MnT in Jul’18.However Galvanized steel imports stood at 0.12 MnT in Aug’18 against 0.14 MnT in previous month.However imports of CRC witness significant increase to 0.05 MnT in Aug’18 against 0.03 MnT in Jul’18.

Indian flat steel Imports from South Korea fall to 6-Month low– Imports from South Korea stood at 0.19 MnT in Aug’18 lower by 24% against 0.25 MnT in Jul’18. Volumes are lower since past 6-months as these levels were last seen in Feb’18.However imports from Japan stood stable at 0.10 MnT since last two months.

Also imports from China witness fall by 17% to 0.07 MnT in Aug’18 which was 0.06 MnT a month ago.Meanwhile Indonesia,Ukraine,Germany and Belgium also exported to India in small quantities in Aug’18.

Flat steel imports to Mumbai port decline 30% in Aug’18 – Flat steel imports at Mumbai port decreased by 30% to 0.16 MnT in Aug’18 against 0.23 MnT in Jul’18. Indian flat steel imports at Chennai port stood at 0.09 MnT in Aug’18 fell by 25% in comparison to 0.12 MnT in Jul’’18.

Other major ports include JNPT at 0.05 MnT since last two months.However imports at Kandla port stood at 0.06 MnT,higher by 20% against 0.05 MnT in previous month.

Major flat steel importers in Aug’18-POSCO Maharashtra Steel Pvt.Ltd was the major flat steel importer and has imported 68,097 MT in Aug’18.Other major flat steel importers were Hyundai Steel India at 36,795 MT.Meanwhile ASA Industrial Corporation followed by Hyundai Steel India Pvt Ltd.at 36,795 MT and Jindal India Limited at 24,283 MT remain major importers in Aug’18.

Major Flat steel Importers in Aug’18-

Source- SteelMint Research
Fig in Mt

For top ten flat steel importers in Aug’18 please click here