Total import of bar and rod in alloy and non alloy steel in Aug’15 was 0.16 MnT, which is a sharp increase of 27% as compared to the previous month as per Steel Ministry data.
As per the port data available with SteelMint, average import of bar and rod in India is approx 0.13 MnT every month; out of which, 40% is rebar and 60% wire rod.
In Aug’15, there was a sharp increase of 40% in wire rod import as compared to July’15. The wire rod import touched 0.12 MnT in Aug’15.
Currently, rebar offers in China FOB are in the range of USD 280-285/MT for October shipments for 16-25 mm chromium- added material. Wire rod offers are at USD 310 CIF Mumbai Port. (INR 20,500) duty, taxes and port expenses extra.
On 7 Nov’14 India imposed BIS quality norms in rebar trade in India that also implies to imported material. However, BIS is not applicable in wire rod import and trade.
|
Month |
Alloy Steel | M-o-M Change | Non-Alloy steel | M-o-M Change | (Alloy & non-Alloy Steel) |
M-o-M Change |
| Apr’15 | 52200 | + 17% | 58,170 | + 38% | 110,370 | + 27% |
| May’15 | 33,620 | – 36% | 84770 | + 46% | 118,390 | + 7% |
| June’15 | 93,060 | + 177% | 52,500 | – 38% | 145,560 | + 23% |
| July’15 | 81,610 | – 12% | 48,380 | – 8% | 129,990 | – 11% |
| Aug’15 | 123,110 | + 51% | 42,180 | – 13% | 165,290 | + 27% |
Source: Ministry of Steel
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