Indian Flat Steel Imports Down by 6% in Q1 CY'20
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India's flat steel imports decreased by 6% and stood at 0.97 MnT in Q1 CY'20 as compared with 1.03 MnT in Q4 CY'19, according to customs data maintained with SteelMint. On a monthly premise, the nation's flat steel import remained consistent at 0.3 MnT in Mar'20 and Feb'20.
-- In the month of Feb'20, SteelMint had reported that the Japanese and South Korean major steelmakers collectively booked around 20,000 MT of HRC at around USD 500-503/MT CFR basis for March April shipments. Thus, imports remained largely stable since domestic HRC prices were at par with landed cots of imports to India from FTA nations.
-- However, towards the end of Mar'20 Indian govt announced the complete lockdown as a preventive measure to fight against COVID-19, restricting all transportation and logistic facilities, which resulted in a decline in import numbers this quarter.
Indian HRC/Plate import volumes up by 8% in Q1 CY '20- Import volumes of HRC/Plate to India moved up by 8% to 0.39 MnT in Q1 CY'20 against 0.36 MnT in the preceding quarter.
-- Meanwhile Galvanized steel imports up by 14% to 0.24 MnT in Q1 CY '20 in comparison to 0.21 MnT in the Q4 CY'19.
-- Imports of electrical steel plunged by 29% in Q1 CY'20 to 0.29 MnT which was 0.41 MnT in Q4 CY'19.
-- Meanwhile, the import volume of CRC in Q1 CY'20 remains unchanged at 0.05 MnT.
Imports from South Korea up by 4% in Q1 CY'20- Flat steel import volumes from South Korea moved up by 4% at 0.55 MnT in Q1 CY'20 against 0.53 MnT in Q4 of the previous calendar year.
-- Import volume from Japan decreased by 7% to 0.14 MnT in Q1 CY'20 which was 0.15 MnT in Q4 CY'19.
-- However, imports from China slashed by 37% to 0.12 MnT in Q1 CY'20 as compared to 0.19 MnT in the fourth quarter of the preceding year.
-- Meanwhile, Taiwan and Indonesia also exported flat steel products to India in small quantities in Q1 CY'20.
Flat steel imports at Mumbai port surge by 21% in Q1 CY '20- Flat steel imports at Mumbai port stood at 0.35 MnT in Q1 CY'20, surged by 21 % as compared to 0.29 MnT in the last quarter of the previous year.
-- However, imports at the Chennai port fell by 5% to 0.18 MnT in Q1 CY'20 as against 0.19 MnT in Q4 CY'19.
-- Meanwhile, imports at Mundra port stood at 0.12 MnT, Kandla at 0.10 MnT and JNPT at 0.09 MnT in Q1CY20.
Party-Wise Flat Steel Importers in Mar'20
| India Finish Flat Import March'20 | ||
| Flat Product | Importer | Quantity in MT |
| FLAT-HR(CH-7208) | POSCO India | 52,705.3 |
| Vestas Wind Technology India Private Limited | 9,579.7 | |
| Manaksia Steels Limited | 9,181.4 | |
| Siemens Gamesa Renewable Power Private Limited | 6,428.3 | |
| Others | 46,392.3 | |
| FLAT-CR(CH-7209) | Hyundai Steel India Private Limited | 7,881.5 |
| POSCO India | 4,576.0 | |
| Hyundai Steel Anantapur Private Limited | 1,988.5 | |
| Baosteel India Company Private Limited | 1,783.1 | |
| Others | 3,736.6 | |
| GP/GC(CH-7210) | Avk Ispat Pvt Ltd | 5,565.6 |
| Hyundai Steel India Private Limited | 5,533.5 | |
| Kvr Sales Corporation | 5,411.6 | |
| POSCO India | 5,088.4 | |
| Others | 56,905.7 | |
| CR/HR-COIL(CH-7211) | Jm Frictech India Pvt Ltd | 175.9 |
| Ifb Industries Ltd | 142.4 | |
| Tube Investments Of India Limited | 67.7 | |
| Hindustan Pencils Private Limited | 59.1 | |
| Others | 542.4 | |
| Galvanized coated(CH-7212) | Empire Home Appliances Private Limited | 237.4 |
| Dongkuk Steel India Private Limited | 203.0 | |
| Meneta Automotive Components Pvt.Ltd. | 184.2 | |
| Kvr Sales Corporation | 163.1 | |
| Others | 1,860.7 | |
| Electrical steel(CH-7225) | POSCO India | 22,571.0 |
| Welspun | 9,059.1 | |
| Hyundai Steel India Private Limited | 7,454.8 | |
| Maruti Suzuki India Limited | 3,669.0 | |
| Others | 33,954.4 | |
| Total | 303,101.3 | |
Source: Customs data, SteelMint Research
