Steel giants like SAIL, RINL, Usha Martin and JSW Steel has filed an application to government to start anti dumping investigation on wire rod imports.
In a recent notification issued on 2 June’16 by the Directorate General of Anti- Dumping and Allied Duties, under the arms of Indian government started the anti- dumping investigation related to imports of “Wire Rod of Alloy or Non- Alloy Steel” originating in or exported from China.
The application has been filed by the leading steel producers like Steel Authority of India Limited (SAIL), Rashtriya Ispat Nigam Limited (Vizag Steel), Usha Martin and JSW Steel limited. The same application is also supported by other domestic producers like Tata Steel and Jindal Steel & Power limited as per the notification.
In the first two month of FY17, import of wire in India under the chapter/code 7227 was about 50,000 MT as per the custom data available with SteelMint and another chapter/code 7217, import of wire material was about 38,000 MT in the same duration.
It should be noted government imposed MIP on bar and rod including wire rod in early Feb’16 for six months under chapter/HS code 7213, 7214 and 7227 in the range of USD 449-455/MT which is going to expire in Aug’16.
Indian primary producers are offering 6mm wire rod material at INR 30,500-31,000/MT (USD 455-465/MT) in Delhi/ NCR which is close to MIP. Prices are basic but inclusive freight, Ex Delhi.
While, secondary wire rod producers in Raipur and Durgapur are available at INR 26,400/MT and 24,600/MT respectively for 5.5 mm material. Price are basic, ex works.
In the global market, wire rod is offered at around USD 312/MT, FoB China Main Port, falls by about USD 110-115/MT in a month’s time.
Bar and rod import to India during Dec’15-May’16
| Month | Alloy BAR ANDROD(CH-7228) | Non Alloy – BAR ANDROD(CH-7214) | Non Alloy – BAR ANDROD-Coil(CH-7213) | Other Non Alloy – BAR ANDROD(CH-7215) | WIRE of alloy Steel(ch-7227) | WIRE of Non alloy Steel(CH-7217) | Grand Total | M-o-M Change |
| Dec’15 | 34,500 | 28,500 | 6,500 | 1,300 | 56,200 | 11,900 | 1,38,900 | |
| Jan’16 | 46,700 | 3,200 | 4,600 | 1,300 | 76,400 | 14,800 | 1,47,000 | +6% |
| Feb’16 | 36,800 | 23,700 | 3,200 | 700 | 65,200 | 15,800 | 1,45,400 | -1% |
| Mar’16 | 33,500 | 9,700 | 2,800 | 1,500 | 57,200 | 11,800 | 1,16,500 | -20% |
| Apr’16 | 41,300 | 18,300 | 2,300 | 3,000 | 29,300 | 13,300 | 1,07,500 | -8% |
| May’16 | 40,300 | 22,000 | 2,200 | 2,200 | 20,600 | 24,600 | 1,11,900 | +4% |
Quantity in MT, provisional data
Source: Custom data, SteelMint Research
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