India: Finish Flat Steel Imports Increased by 27% in Apr'20

As per the latest data released by the customs, India's finish-flat imports stood at 0.38 MnT in Apr'20 up by 27% on a monthly basis as against 0.30 MnT in Mar'20.

--Earlier in the month of Feb'20 SteelMint reported that a major South Korean steel manufacturer booked around 10,000 MT of HRC ( SAE1006 rerolling grade) to India at USD 500-503/MT CFR basis.

--Also Mumbai based stockists booked around 10,000 MT of HRC at USD 505-510/MT CFR India. All bookings were for April deliveries.

--Meanwhile, on a yearly basis, import volumes slashed by 24% in Apr'20 in contrast with 0.50 MnT in Apr' 19.

Commodity wise imports-
--The nation's HRC/Plates import witnessed a rise by 8% M-o-M basis to 0.13 MnT in Apr'20 when compared with 0.12 MnT a month ago.

--Indian electrical steel imports jumped to 0.15 MnT in Apr'20 in contrast with 0.08 MnT in the previous month.

--The galvanized steel imports were consistent at 0.08 MnT in Apr'20 over Mar'20.

--Meanwhile, imports of CRC remained unchanged at 0.02 MnT in Apr'20 as against Mar'20.

Country-wise Imports
--The nation's imports from South Korea ascended by 17% M-o-M basis to 0.21 MnT in Apr'20 over 0.18 MnT in the previous month.

--India's finish-flat steel imports from China climbed to 0.07 MnT in Apr'20 as compared with 0.02 MnT in Mar'20.

--However, imports from Japan increased by 25 % M-o-M basis to 0.05 MnT in Apr'20, which was 0.04 MnT in the preceding month.

Port-Wise Imports
--Finish-flat steel imports at Mumbai port declined by 8% to 0.11 MnT in Apr'20 over 0.12 MnT in Mar'20.

--Imports at Chennai increased by 14% to 0.08 MnT in Apr'20 as compared with 0.07 MnT in Mar'20.

--Meanwhile, imports at Kandla port surged multifold to 0.09 MnT in Apr'20 in contrast with 0.01 MnT in the preceding month.

--Also, imports at Mundra port stood at 0.03 MnT in Apr'20 consistent over Mar'20. Meanwhile, imports volume at JNPT port was 0.03 MnT, and Dahej 0.01 MnT in Apr '20.

Party-Wise HRC Importers in Apr'20-
--POSCO stood as a major HRC importer and booked around 34,219 MT of HRC in Apr'20.

--Second major importer was Ratnamani Metals and Tubes ltd at 12,553 MT followed by ArcelorMittal Nippon steel at 11,814 MT and Hariyana ship breakers LTD at 10,272 in Apr'20

Outlook - With decline import bookings due to lock-down and dull domestic demand, Indian flat steel imports are expected to move down in May'20.