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.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
