Indian Flat Steel Imports Edge Up in Jan'18

As per customs data maintained with SteelMint ,Indian flat steel imports on monthly basis increased by 7% in Jan'18 against 0.45 MnT in Dec'17

However imports declined sharply by 19% to 0.48 MnT on yearly premise in Jan'18 against preceding year. In Jan'17 nation's flat steel imports stood at 0.59 MnT.

In the tenure of 2017 nation's finish flat imports moved down slightly by 1% to 6.09 MnT in comparison with 6.14 MnT in CY16.

India's HRC import volumes rise 13% M-o-M in Jan'18-In Jan'18,India imported 0.17 MnT of HRC/Plates (CH 7208) up by 13% M-o-M basis in comparison to 0.15 MnT in Dec'17.

However electrical steel imports increased significantly by 36% to 0.15 MnT in Jan'18 against 0.11 MnT in previous month.Galvanized steel and CRC imports also witnessed decline in CY17.

Flat steel imports from South Korea fall by 5% in Jan'18- In the month of Jan'18,South Korea exported 0.20 MnT of flat steel (accounted for 42% of share ) which is down by 5% on monthly basis against 0.21 MnT in Dec'17.

Other major exporting countries to India in the month of Jan'18 were China at 0.08 MnT ( 17% ) Japan at 0.07 MnT ( 15%) Taiwan 0.02 MnT ( 5%) followed by Germany,Belgium and Indonesia.

Port-wise Indian Flat steel imports in Jan'18-Mumbai port accounted for 0.18 MnT of flat steel imports in Jan'18 down by 10% M-o-M against 0.20 MnT in Dec'17.Other Indian ports which accounted for major share in Indian flat steel imports was Mundra at 0.08 MnT followed by Chennai at 0.08 MnT, JNPT at 0.03 MnT and Hazira at 0.03 MnT in Jan'18.

POSCO Maharashtra was the largest flat steel importer in Jan'18- POSCO Maharashtra Steel Pvt.Limited was the major flat steel importer and has imported 82,942 MT in Jan'18.Other major flat steel importers were Welspun Corp.Ltd and Jindal Saw Ltd.

India Flat Steel Imports in Jan'18

Source-SteelMint Research,Customs