Indian Finish Long Imports Up 19% in CY18

Finish long Steel (Bar and Rod) imports in India moved up by 19% in CY18 over sharp surge in domestic steel prices.

As per custom data, India has imported about 466,662 MT Finish long steel in CY18 as against 391,365 MT in CY17. In line with Indian domestic price movement, it was surge close to 25-30% Y-o-Y in CY18, as per price assessment by SteelMint.

Under Finish Long commodities following HS Codes has been considered - Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).

Commodity wise Rebar imports were registered at 220,329 MT (increased by around 15.55%) against 190,662 in CY17, followed by Wire Rod at 173,925 MT (up by 12.59%) against 154,468 MT & Structure registered at 72,408 MT (climb by 56.61%) against 46,234 MT, on Y-o-Y basis.

Unload Port -- The major imports of Finish Long Steel in CY18 registered at west and south region - JNPT - 143,358 MT (+21%) against 118,491 MT in CY17 followed by Chennai port i:e; 116,599 MT (+44%) against 80,924 MT and Kattupalli Port - 83,890 MT (+24%) against 67,646 MT in CY17.

Load Country -- Major Imports in CY18 was made from China at 110,279 MT (-2%) against 112,256 MT in CY17, followed by Thailand at 86,616 MT (+167%) against 32,446 MT CY17 and Singapore - 62,262 MT (-7%) against 66,984 MT in CY17.