India: Flat Steel Imports Remain Stable in May'19

As per the recent data released by customs, Indian flat steel imports stood at 0.5 MnT in May’19 remained stable against previous month.

SteelMint in the month of April’19 reported that Indian steel importers have booked HRC of around 20,000 MT at around USD 570/MT CFR for May shipments. However sentiments in domestic market remained subdued owing to scheduled general assembly elections in May’19. Thus imported HRC volumes remain unchanged in the month of May’19.

Whereas on yearly premise flat steel imports volume ascended by 22% in May’19 in comparison to 0.41 MnT in May’18.

In first five months of Jan-May CY’19 nation’s flat steel import volumes increased by 11% to 2.56 MnT in comparison to 2.31 MnT in corresponding months of previous year.

Indian HRC/Plate import volume ascends 17% in May’19- Import volumes of HRC/Plate to India upsurged by 17% in May’19 to 0.21 MnT which was 0.18 MnT in Apr’19.

Meanwhile Galvanized steel imports declined by 13% to 0.13 MnT in May’19 against 0.15 MnT in preceding month.

Imports of electrical steel up by 9% in May’19 to 0.12 MnT which was 0.11 MnT in Apr’19.

Meanwhile import volumes of CRC stood at 0.03 MnT in Apr’19, slashed by 40% as compared to 0.05 MnT in preceding month.

Imports from South Korea up by 14% in May’19- Flat steel import volumes from South Korea stood at 0.24 MnT in May’19, increased by 14% in comparison to 0.21 MnT in previous month.

Import volumes from Japan dropped by 10% to 0.09 MnT in May’19 from 0.10 MnT in preceding month.

Meanwhile imports from China stood at 0.06 MnT in May’19, plunged by 45% as compared to 0.11 MnT in Apr’19.

Meanwhile Russia, Indonesia,Iran and Germany also exported flat steel products to India in small quantities.

Flat steel imports at Mumbai port increased by 10% in May’19- Flat steel imports at Mumbai port stood at 0.22 MnT in May’19, moved up by 10% M-o-M basis as compared to 0.20 MnT in the previous month.

However imports at Chennai port tumbled by 29% and stood at 0.1 MnT in May’19 in comparison with 0.14 MnT in Apr’19.

Imports at JNPT also remained stable for third consecutive month at 0.05 MnT in May’19.

Meanwhile import volumes at Kandla port stood at 0.02 MnT in May'19, remain stable against last month.

Party-Wise Flat Steel Importers in May’19- POSCO Maharsatra imported 79,708 MT of flat steel in May’19. Following this Jindal Saw Ltd and Hyundai steel India Pvt Ltd stood as other major flat steel importers in May’19.