As per the latest data released by the customs, India’s finish flat imports plunged by 21% to 0.38 MnT in Oct’19 as compared with 0.48 MnT in Sep’19.
Bearish market sentiments amid subdued demand, and falling domestic steel prices along with week-long festive holidays led to a decline in finish flat steel imports in Oct’19.
Also, rumors on the imposition of safeguard duties kept stockiest and traders away from making any import bookings for Oct deliveries.
Meanwhile, on a yearly premise, the same slashed by 27% in Oct’19 in contrast with 0.52 MnT in Oct’18.
During the first ten months (Jan-Oct) CY’19, the nation’s imports aggregated to 5.17 MnT, up by 4% in comparison with 4.98 MnT in the corresponding months of CY’18.
Indian HRC/Plates imports plunge by 37% in Oct’19- The nation’s HRC/Plates witnessed a significant fall of 37% M-o-M basis to 0.12 MnT in Oct’19 when compared with 0.19 MnT a month ago.
Indian electrical steel imports remain unchanged at 0.17 MnT in Oct’19 over Sep’19.
The galvanized steel imports reported a decline of 13% M-o-M to 0.07 MnT in Oct’19, which was 0.08 MnT a month ago.
Meanwhile, imports of CRC halved to 0.02 MnT in Oct’19 as compared with 0.04 MnT in the preceding month.
Imports from South Korea reduced by 32% in Oct’19- The nation’s imports from South Korea slashed by 32% M-o-M basis to 0.17 MnT in Oct’19 over 0.25 MnT in the previous month.
India’s finish flat steel imports from Japan remained stable for two consecutive months at 0.06 MnT in Oct’19 and Sep’19.
However, imports from China plunged by 25% to 0.09 MnT in Oct’19, which was 0.12 MnT in the preceding month.
Imports at Mumbai port halve in Oct’19- Flat steel imports at Mumbai port halved to 0.08 MnT in Oct’19, which was 0.16 MnT in the previous month.
Imports at the Chennai port plunged by 33% to 0.06 MnT in Oct’19 as compared with 0.09 MnT a month ago.
Meanwhile, imports at Mundra port stood at 0.08 MnT in Oct’19, tumbled by 33% from 0.12 MnT in the preceding month.
Also, imports at Kandla port stood at 0.09 MnT, JNPT at 0.03 MnT, and Kolkata at 0.01 MnT in Oct’19.
Party-Wise Flat Steel Importers in Oct’19-
| Flat Product | Importer | Quantity in MT |
| FLAT-HR(CH-7208) | Jindal Saw Limited | 36,267 |
| Ratnamani Metals And Tubes Ltd | 14,982 | |
| Welspun | 13,536 | |
| Posco Maharashtra Steel Pvt Ltd | 10,491 | |
| Others | 42,916 | |
| FLAT-CR(CH-7209) | Hyundai Steel India Private Limited | 10,270 |
| Posco India Processing Center Pvt Ltd | 1,784 | |
| Ashok Leyland Defence Systelimited | 1,510 | |
| Baosteel India Company Private Limited | 1,160 | |
| Others | 4,193 | |
| GP/GC(CH-7210) | Hyundai Steel India Private Limited | 10,202 |
| Satyam Auto Components Pvt Ltd | 3,621 | |
| Hyundai Steel Anantapur Private Limited | 2,408 | |
| Dongkuk Steel India Private Limited | 2,053 | |
| Others | 51,450 | |
| CR/HR-COIL(CH-7211) | Jm Frictech India Pvt Ltd | 281 |
| Ifb Industries Ltd | 237 | |
| Tocheunglee Stationery Mfg Co Pvt Ltd | 174 | |
| Exedy India Limited | 119 | |
| Others | 765 | |
| Galvanized coated(CH-7212) | Golkonda Engineering Enterprises Ltd. | 701 |
| Meneta Automotive Components Pvt.Ltd. | 317 | |
| Metal One Corporation India Private Limited | 280 | |
| Kvr Sales Corporation | 170 | |
| Others | 1,770 | |
| Electrical steel(CH-7225) | Posco Maharashtra Steel Pvt Ltd | 28,746 |
| Man Industries India Limited | 27,743 | |
| Welspun | 25,049 | |
| Jindal Saw Limited | 21,679 | |
| Others | 69,889 | |
| Total | 384,764 | |
Source: Customs Data, SteelMint Research
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