Posted on 17 Oct 2024
Indian hot rolled flat steel imports rose 38% month-on-month to 481,863 tonnes in September, according to Cybex data accessed by Kallanish. This is the fourth consecutive on-month rise.
India continued to be a net importer in September, as Indian HRC exports fell by 21% on-month to 99,838t (see separate article). India turned into a net importer in the fiscal year ending March 2024 (FY24) and has remained one year to date in FY25.
In August, Indian HRC imports rose 24% on-month to 348,182t (see Kallanish passim).
The data covers HS codes with a heading of 7208. The most traded codes are 720837, 720838 and 720839. These include HR carbon steel coil and sheet in thickness of 10mm and over 600mm wide, and HRC and sheet, excluding stainless products.
Japan, Vietnam, South Korea and China were the largest HRC suppliers in September.
Intake of Japan-origin HRC, the largest origin, stood at 189,339t, up by 151% m-o-m. AMNS India was the largest importing mill, receiving 81,489t, up 117%. AMNS Khopoli received 28,646t. Both AMNS India and AMNS Khopoli received product from Nippon Steel Trading.
Mumbai, Mundra and Kolkata were the main Indian ports for these shipments. Fukuyama, Mizushima, Kashima and Oita were the main Japanese ports used.
Vietnam-origin HRC imports, the second-largest origin, stood at 183,083t, rising 20% on-month in September. Apl Apollo Tubes was the largest importer, receiving 62,768t, up by 752% m-o-m. Smart Timing Steel and Sharpmax International (Hongkong) were its main suppliers.
K Amishkumar Trading was the next largest importer, receiving 43,948t. Hangzhou Cogeneration Hong Kong Company and Sharpmax International (Hongkong) were its main suppliers.
Mumbai and Chennai were the main Indian ports for these shipments. Son Duong port was the main Vietnamese port used.
The third-largest supplier, South Korea, supplied 72,494t, down by 14.5% m-o-m in September. Posco Maharashtra Steel was the biggest importer. It received 55,175t, up by 28% m-o-m. Posco was the largest supplier.
Mumbai, Mundra and Chennai were the main Indian ports. Dangjin, Kwangyang, Gwangmyeong and Pohang were the main South Korean ports for shipments.
China, the fourth-largest HRC supplier to India in September, supplied 36,946t, up by 5% m-o-m. Man Industries was the largest importer, receiving 19,357t. Sharpmax International (Hongkong) and Fortune Commodity (Hk) were the suppliers. Pmea Solar Tech Solutions was the next largest importing company, receiving 10,311t of product. Samsung C And T Corporation was the sole supplier.
Mumbai, Mundra, Kandla and Jawaharlal Nehru Port (JNPT) were the main Indian ports. Bayuquan, Lanshan, Shanghai, Zhangjiagang, Jingtan and Tianjin were the main Chinese ports used for shipments.
Indian authorities have expressed their support for import restrictions. In September, the steel ministry urged the finance ministry to double the basic customs duty to 15% to tackle rising imports. Several high-profile steelmakers also urged authorities to do the same (see Kallanish passim).
According to Global Trade Tracker and Cybex data, India’s October 2023 to September 2024 HRC imports were 3.7 million tonnes. This is a rise of 52.3% from 2.43mt in the year-earlier period.
Source:Kallanish
