Indian Bar and Rod Imports Fall Significantly in Q1 FY18
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Indian bar and rod imports marked a substantial fall in Q1 FY18 by 39% as compared to same duration in FY17 as per the recent customs data released by Indian Government.
The total imports under Chapter 7214, 7228, 7227, 7213, 7215 and 7217 in Q1 FY18 stood at 184,994 MT against 303,198 MT in Q1 FY17.
Indian bar and rod have also decline M-o-M by 15% to 54,816 MT for Jun’17 against 64,316 MT in May’17
Total Bar and Rod Imports
| Products | Jun'17 | May'17 | Jun'16 |
| Alloy BAR AND ROD(CH-7228) | 14,536 | 18,024 | 21,022 |
| Non Alloy - BAR AND ROD(CH-7214) | 15,710 | 25,752 | 6,616 |
| Non Alloy - BAR AND ROD-Coil(CH-7213) | 2,297 | 3,662 | 3,064 |
| Other Non Alloy - BAR AND ROD(CH-7215) | 1,457 | 1,381 | 1,910 |
| WIRE of alloy Steel(ch-7227) | 9,100 | 4,015 | 12,300 |
| WIRE of Non alloy Steel(CH-7217) | 11,712 | 11,483 | 38,903 |
| Grand Total | 54,812 | 64,316 | 83,815 |
Quantity in MT
Source: SteelMint Research and Customs
Large Steel maker TATA Steel emerged as the major importer of the long steel in Jun’17 and imported around 14,736 MT.
In June 2017, the largest exporter to India was China with total quantity around 18,650 MT, followed by Singapore at 14,736MT and Japan at 6,956 MT.
Indian Finish Steel Imports:
The total finished steel imports declined by 6.4% on yearly basis to 1.71 MnT in Q1 FY18 over same time period of financial year. On monthly basis imports showed the significant rise of 17% to 0.65 MnT in Jun’17 against May’17.
Source: SteelMint Research
