India: Finish Long Steel Imports Drop 30% in Aug 2019

Indian Finish long steel imports plunged by 30.3% in Aug'19, as per the custom data maintained with SteelMint.

Finish long steel imports in India stood at 39,406 MT in Aug'19 as compared to 56,513 MT in Jul'19; declined by 30.3%. However on yearly basis imports surged by 26.8% in Aug'19 as against 31,087 MT in Aug'18.

It seems the imports have been drop due to significant decline in Indian steel prices, which dropped by around 4-5% during Jul & Aug'19 as against price range of rebar in Jun'19, as per assessment made by SteelMint.

Commodity wise- Rebar imports by India is 21,565 MT in Aug'19, down 42.8% as against 37,690 MT in Jul'19 followed by Structure (Angle/Channel) import is 4,315 MT in Aug'19 down 14.8% as compare to 5,067 MT in Jul'19 and Wire Rod at 13,526 MT in Aug'19, slump 1.7% than the 13,756 MT in Jul'19.

Country wise- Thailand stood as top exporter of finish long steel to India and on monthly basis exports declined by 14.76% to 10,732 MT in Aug'19 as against 12,591 MT in Jul'19 followed by South Korea 10,010 MT in Aug'19 (-10%) as against 11,223 MT in Jul'19 and China 7,380 MT in Aug'19 (-20%) as against 9,303 MT in Jul'19.

Unload port - on monthly basis imports of finish long steel at Chennai port is registered at 10,394 MT in Aug'19 up 7.37% as against 9,680 MT in Jul'19, followed by JNPT port 9,923 MT in Aug'19 (-13.34%) as against 11,451 MT in Jul'19 and at Mumbai port 6,206 MT in Aug'19 (+4.88%) as compared to 5,917 MT in Jul'19.