Indian Flat Steel Import Drops by 17% M-o-M in Feb'20 on Dull Demand

As per the latest data released by the customs and compiled by SteelMint, India's finish-flat imports stood at 0.30 MnT in Feb'20 down by 17% on a monthly premise as against 0.37 MnT in Jan'20.

--Lacklustre demand and weak buying interest among buyers in the domestic market resulted to fall in import volumes in Feb '20.

-- Although the landed cost of HRC imports and domestic HRC prices were at par, which motivated stockists and traders to purchase locally rather than imports.

-- Meanwhile, on a yearly premise, the same slashed by 35% in Feb'20 in contrast with 0.46 MnT in Feb'19.

Indian HRC/Plate imports plunged by 27% in Feb '20-

-- The nation's HRC/Plates plunged by 27% M-o-M basis to 0.11 MnT in Feb'20 when compared with 0.15 MnT a month ago.

-- Indian electrical steel imports tumbled by 17% M-o-M basis to 0.1 MnT in Feb'20 over 0.12 MnT in Jan' 20.

-- The galvanized steel imports were consistent at 0.08 MnT in Jan and Feb'20.

-- Meanwhile, imports of CRC slashed to 0.01 MnT in Feb'20 as against 0.02 MnT in Jan' 20.

Imports from South Korea dipped by 32% in Feb'20-

-- The nation's imports from South Korea slashed by 32% M-o-M basis to 0.15 MnT in Feb'20 over 0.22 MnT in the previous month.

-- India's finish-flat steel imports from Japan surged to 0.06 MnT in Feb'20 as compared with 0.04 MnT in Jan' 20.

-- However, imports from China tumbled by 43 % M-o-M basis to 0.04 MnT in Feb'20, which was 0.07 MnT in the preceding month.

Imports at Mumbai port down by 8% in Feb'20-

-- Finish-flat steel imports at Mumbai port declined by 8% to 0.11 MnT in Feb'20 over 0.12 MnT a month ago.

-- Imports at the Chennai slimmed by 17% to 0.05 MnT in Feb'20 compared with 0.06 MnT in the previous month.

-- Meanwhile, imports at Mundra port tumbled to 0.04 MnT in Feb'20 from 0.05 MnT in the preceding month.

-- Also, imports at Kandla port in Feb'20 stood at 0.02 MnT which was 0.06 MnT in Jan '20.

--Meanwhile, in Feb'20, imports at JNPT port at 0.03 MnT, and Dahej at 0.01 MnT, remained consistent against imports in Jan'20.

Party wise flat steel importers in Feb '20-

-- POSCO India remained the largest importer in Feb' 20. Other major importers are mentioned in the table below.

Source: SteelMint Research