India: Finish Long Steel Imports Surge by 19% in Jan’19

Finish long Steel (Bar and Rod) imports in India moved up sharply by 19% in Jan’19 and registered at 51,579 MT against 43,319 MT in Dec’18, as per recent released custom data.

Factors could be considered FTA between Singapore & India would have landed at far reasonable price in comparison to local domestic prices as the major volume has been exported by Singapore i:e; 34% during Jan’19.

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).

As per data maintained by SteelMint stats, Y-o-Y finish long steel imports in India registered at 51,579 MT in Jan’19 as against 17,295 MT in Jan'18, up by 198.23%.

Commodity wise -- Rebar imports were registered at 35,284 MT (surge by 29%) against 27,261 MT in Dec’18, followed by Wire Rod at 11,162 MT (down by 9%) against 12,271 MT & Structure registered at 5,132 MT (up by 36%) against 3,787 MT, M-o-M basis.

Unload Port -- The major imports of Finish Long Steel in Jan’19 registered at west and south region – JNPT – 12,473 MT (+22%) against 10,211 MT in Dec’18 followed by Kattupalli port - 12,051 MT (+5%) against 11,511 MT and Paradeep Port – 6,973 MT (-40%) against 11,533 MT in Dec’18.

Loading Country -- Major Imports in Jan’19 was origin by Singapore at 17,504 MT (-24%) against 23,100 MT in Dec’18, followed by China at 8,224 MT (+43%) against 5,764 MT in Dec’18 and Thailand – 7,796 MT (+541%) against 1,217 MT in Dec’18.