Indian Bar and Rod Imports Marginally Decline in Apr'17
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According to the customs data maintained by SteelMint, Indian Bar and rod imports registered slight fall in Apr by 1% against imports in Mar'17. In the month of Apr'17 the total imports was recorded at 65,866 MT which was at 66,747 MT during Mar'17.
Major imports were done under Alloy Bar and Rod (CH 7228) followed by Wire of Non-alloy Steel (CH-7217) and Non-Alloy Bar and Rod (CH-7214).
Tata Steel Ltd, an India based large scale producers which produced 11.6 MnT finished steel in FY 17 remained the major importer during Apr'17. The company has imported total quantity at 10,800 MT under CH-7228 followed by a public owned firm, Bharat Heavy Electricals Ltd (BHEL) at 3,979 MT under CH-7215.
Major imports to India were viable through China with total quantity at 31, 735 MT followed by Singapore at 10,778 MT. Other major exporters were Japan, Germany and South Korea.
Total Imports:
India's total finished steel imports has declined by 36% to 7.4 MnT in FY 17 as compared to 11.71MnT FY16.
India, being 3rd largest producer of Steel in the world in which the medium/small scale Industries in the country produce about 57% material and rest are manufactured by Integrated steel plants through Blast furnace route.
Indian Bar and Rod Imports as on Apr'17
| Products | Mar'17 | Apr'17 |
| Alloy BAR AND ROD(CH-7228) | 15,702 | 25,640 |
| Non Alloy - BAR AND ROD(CH-7214) | 18,532 | 12,149 |
| Non Alloy - BAR AND ROD-Coil(CH-7213) | 2,584 | 2,802 |
| Other Non Alloy - BAR AND ROD(CH-7215) | 1,666 | 5,275 |
| WIRE of alloy Steel(ch-7227) | 12,039 | 6,905 |
| WIRE of Non alloy Steel(CH-7217) | 16,224 | 13,095 |
| Grand Total | 66,747 | 65,866 |
Qty in MT, Provisional Data
Sourcers: Customs and SteelMint Stats
