India's Long Steel Imports Remain Stable in Oct'19

Finish Long Steel imports in India stands firm M-o-M in Oct'19, as per custom data maintained by SteelMint.

Finish long steel imports in India is registered at 17,700 MT in Oct'19, which is more or less firm as compared to 17,811 MT in Sep'19. Meanwhile, on a yearly basis, imports plunged by 38.26% in Oct'19 as against 28,671 MT in Oct'18.

Factor could have contributed towards stable imports is limited demand in the Indian domestic market and the price range was continuous on a downtrend in finish steel, this in turn maintained figures of finish long steel imports.

Commodity wise- Rebar imports by India stands at 5,267 MT in Oct'19, surged by 11.56% as against 4,721 MT in Sep'19 followed by Wire Rod 9,819 MT in Oct'19 (+10.4%) as against 8,894 MT in Sep'19 and Structure (Angle/Channel) import is 2,613 MT in Oct'19, drifted down by 37.74% as compared to 4,197 MT in Sep'19.

Load Country wise- China stood as top exporter of finished long steel to India and on a monthly basis export increased by 7.5% to 4,283 MT in Oct'19 against 3,985 MT in Sep'19 followed by South Korea 4,203 MT in Oct'19 (-0.96%) against 4,244 MT in Sep'19 and Malaysia 3,423 MT in Oct'19 (+2.5%) as against 3,339 MT in Sep'19.

Unload Port Wise- JNPT notified one of the active ports, in which imports of finished long steel surged by 8.4% to 4,951 MT in Oct'19 as against 4,568 MT in Sep'19, followed by Chennai port 4,546 MT in Oct'19 (-31.83%) against 6,669 MT in Sep'19 and Mumbai port 2,281 MT in Oct'19 (+211%) compared to 733 MT in Sep'19.