Indian Flat Steel Imports Up 10% in Nov’18

Indian flat steel imports reported surge in the month of November over cost effective imports compared to domestic prices, as per data maintained with SteelMint.

Indian flat steel imports stood at 0.57 MnT in Nov’18 up by 10% as compared to 0.52 MnT in previous month.

In Oct’18, SteelMint reported Indian steel importers booked 20,000 MT HRC from South Korea for November shipments at around USD 605/MT CFR India. Meanwhile southern India based importers had also booked around 26,000 MT HRC of varying thickness from Japan at around USD 605-610/MT, CFR India for November shipment.

Meanwhile on yearly basis also nation’s flat steel imports moved up by 10% as compared to 0.52 MnT in Nov’17.

In first eleven months of Jan-Nov’18 nation’s flat steel imports stood at 5.55 MnT inch up by 2% as compared to 5.63 MnT in same time frame of previous year.

Indian HRC/Plate imports increased 17% in Nov’18 – Nation’s HRC/Plate imports stood at 0.21 MnT in Nov’18 surge by 17% against 0.18 MnT in Oct’18.However electrical steel imports moved up by 7% to 0.16 MnT in Nov’18 which was 0.15 MnT in previous month.

Meanwhile,India imported 0.15 MnT of galvanized steel in Nov’18,higher by 25% as compared to 0.12 MnT in previous month.However imports of CRC remained stable since past two months.

Imports from China double in Nov’18 – India’s flat steel imports from China stood at 0.16 MnT in Nov’18, reported significant surge as compared to 0.08 MnT in Oct’18.

However imports from Japan moved down by 22% to 0.07 MnT in Nov’18 as compared to 0.09 MnT in Oct’18.Meanwhile imports from South Korea also decline by 13% to 0.20 MnT in Nov’18 as compared to 0.23 MnT in previous month.

Flat steel imports at Mumbai port surge by 20% in Nov’18 – Flat steel imports at Mumbai port stood at 0.18 MnT in Nov’18 as compared to 0.15 MnT in Oct’18.

However imports at Chennai port stood at 0.14 MnT in Nov’18 against 0.09 MnT in previous month. Meanwhile imports at Mundra port stood at 0.04 MnT in Nov’18 against 0.06 MnT prior this month. However imports at Kandla port decline by 11% to 0.08 MnT in Nov’18 compared to 0.09 MnT in previous month.

Major flat steel importers in Nov’18 – POSCO Maharashtra Steel Pvt.Ltd was the major flat steel importer in Nov’18.Other major flat steel importers were M.L.S Enterprises Pvt Ltd,Jindal Saw Limited followed by Jindal India Limited Steel.

Product-Wise Flat Steel Importers in Nov’18

Fig in MT
Source- SteelMint Research