Indian Flat Steel Imports Soar by 60% M-o-M in Jul’17

According to provisional customs data maintained with SteelMint ,India imported 0.7 MnT of flat steel in Jul’17 and imports have moved up drastically by 60% against 0.44 MnT in Jun’17.

Indian importers had booked significant quantities of flat steel owing to low prices in beginning of Jun’17 which arrived at Indian ports in July.

However on yearly basis,India’s flat steel imports witnessed the substantial increase of 70% in Jul’17 in comparison to 0.41 MnT in Jul’16.

However during Jan-Jul’17 nation’s finish flat imports decline by 20% from 3.32 MnT to 4.18 MnT in similar time frame of previous year. Imposed anti-dumping duties and safeguard measures have restricted flat steel imports to India in this year.

HRC/HR plates accounted for 50% imports in Jul’17 -In Jul’17,India imported 0.35 MnT HRC (CH 7208) against 0.18 MnT in Jun’17. Similarly other flat product imports like GP/GC assessed at 0.12 MnT, electrical sheets stood at 0.17 MnT and CRC at 0.06 MnT in Jul’17.

0.30 MnT of flat steel imported at Mumbai port in Jul’17 -Mumbai port accounted for 0.30 MnT of flat steel imports in Jul’17 against 0.17 MnT in Jun’17 followed by Chennai at 0.13 MnT and Mundra at 0.08 MnT in Jul’17.

South Korea was the major flat exporter to India in Jul’17-South Korea was the major flat steel exporter and has exported 0.27 MnT in Jul’17 in contrast to 0.17 MnT in Jun’17.In first seven months, India imported 1.18 MnT (36% share of total flat steel imports).Other major flat steel exporters to India in the month of July was Japan (0.13 MnT) and China at (0.23 MnT).

POSCO Maharashtra was the largest flat steel importer in Jul’17-
POSCO Maharashtra remained the India’s largest flat steel importer in Jul’17 followed by Hyundai Steel Corp,API Appolo Tubes and Bhushan Steel.

Quantity in MT
Source-SteelMint Research