Indian Flat Steel Imports Shrink 19%, M-o-M in Apr’17

India is world’s 3rd largest steel producer after China and Japan. According to provisional customs data maintained with SteelMint ,India imported 0.38 MnT flat steel in Apr’17, against 0.47 MnT in Mar’17. Thus, imports were down by 19%  M-o-M in Apr’17.

However on yearly premises, India’s flat steel imports have registered the drastic fall of 21% in Apr’17. In Apr’16, India imported 0.48 MnT flat steel. Flat steel imports to India have reported a decline owing to imposition of trade barriers like provisional anti-dumping duty and safeguard duty. However imports are likely to increase in the coming months as few importers were heard to book HRC over cheaper offers from China and South Korea.

In Apr’17,India imported 0.11 MnT HRC (CH 7208) against 0.21 MnT in Mar17. Similarly other flat product imports like CRC(CH-7209) and Galvanized Coated (CH-7210) have witnessed rise in imports in Apr’17

Commodity-wise Indian flat steel imports : Apr’17 vs Mar’17

Fig in MT
Provisional data
Source: SteelMint Stats

Mumbai port accounted for 32% share in Indian flat steel import –Mumbai port flat steel imports were recorded 0.11 MnT in Apr’17 against 0.15 MnT in Mar’17.It has accounted for largest share of imports in Apr’17 followed by Chennai at 0.03 MnT and Mundra at 0.05 MnT.

South Korea remained major flat steel exporter to India in Apr’17-
South Korea was the major flat steel exporter and has exported 0.15 MnT in Apr’17 against 0.17 MnT in Mar’17.Other major exporters were Japan (0.07 MnT) and China at (0.06 MnT).

Party-wise Indian flat steel imports in Apr’17- 
Welspun Corp.Ltd remained the India’s major flat steel importer in Apr’17 followed by Hyundai Steel Corp,Posco Maharashtra and Uttam Galva steels.

Major flat steel importers to India :

Fig in MT
Provisional data
Source: SteelMint Stats