Indian Flat Steel Imports Fell 11% in Apr’19; Bookings from South Korea Drop 22%
As per the recent data released by customs Indian flat steel imports stood at 0.5 MnT in Apr’19 drop by 11% against 0.56 MnT in Jan’19.
Resumption of business activities in China post Lunar New Year holidays in Feb amid end of winter season, high offers from Japanese steelmakers amid robust domestic demand from automakers and the construction sector. These factors pushed HRC export offers in upward direction which lowered Indian flat steel imports in April.
Whereas on yearly premise flat steel imports volume slashed by 17% in Apr’19 in comparison to 0.6 MnT in Apr’18.
In first four months of Jan-Apr CY’19 nation’s flat steel import volumes stood around 2.06 MnT up by 8% against 1.9 MnT in same time frame of previous year.
Indian HRC/Plate import volumes fell by 25% in Apr’19- Import volumes of HRC/Plate to India tumbled by 25% in Apr’19 to 0.18 MnT which was 0.24 MnT in Mar’19.
Meanwhile Galvanized steel imports ascended by 36% to 0.15 MnT in Apr’19 against 0.11 MnT in preceding month.
Imports of electrical steel slumped by 31% in Apr’19 to 0.11 MnT which was 0.16 MnT in Mar’19.
Meanwhile import volumes of CRC stood at 0.05 MnT in Apr’19, remain unchanged for four consecutive months since Jan’19.
Import from South Korea drops 29% in Apr’19- Flat steel import volumes from South Korea stood at 0.21 MnT in Apr’19, plunge by 22% in comparison to 0.27 MnT in previous month .
Import volumes from Japan increased to 0.10 MnT in Apr’19 up by 25% from 0.08 MnT in preceding month.
Meanwhile imports from China stood at 0.11 MnT in Apr’19, spiked by 38% as compared to 0.08 MnT in Mar’19.
Meanwhile Taiwan, Russia and Indonesia also exported flat steel products to India in small quantities.
Flat steel imports at Mumbai port inch down by 5% in Apr’19- Flat steel imports at Mumbai port stood at 0.20 MnT in Apr’19 as compared to 0.21 MnT in the previous month.
However imports at Chennai port stood at 0.14 MnT in Apr’19 remain stable against previous month.
Imports at JNPT also remained stable for second consecutive month at 0.05 MnT in Apr’19.
Meanwhile import volumes at Kandla port stood at 0.02 MnT in Apr'19, plunged against 0.06 MnT in preceding month.
Party-Wise Flat Steel Importers in Apr’19- POSCO is the major flat steel importer in Apr’19. Followed by Jindal SAW Limited,Hyundai Steel India Pvt Ltd and China Steel Corporation Limited.
source: SteelMint
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