Indian Flat Steel Import Drops by 17% M-o-M in Feb’20 on Dull Demand
Mining News Pro - As per the latest data released by the customs and compiled by SteelMint, India’s finish-flat imports stood at 0.30 MnT in Feb’20 down by 17% on a monthly premise as against 0.37 MnT in Jan’20.
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According to Mining News Pro - Lacklustre demand and weak buying interest among buyers in the domestic market resulted to fall in import volumes in Feb `20.

Although the landed cost of HRC imports and domestic HRC prices were at par, which motivated stockists and traders to purchase locally rather than imports.

Meanwhile, on a yearly premise, the same slashed by 35% in Feb’20 in contrast with 0.46 MnT in Feb`19.

Indian HRC/Plate imports plunged by 27% in Feb `20

The nation`s HRC/Plates plunged by 27% M-o-M basis to 0.11 MnT in Feb’20 when compared with 0.15 MnT a month ago.

Indian electrical steel imports tumbled by 17% M-o-M basis to 0.1 MnT in Feb’20 over 0.12 MnT in Jan` 20.

The galvanized steel imports were consistent at 0.08 MnT in Jan and Feb’20.

Meanwhile, imports of CRC slashed to 0.01 MnT in Feb’20 as against 0.02 MnT in Jan` 20.

Imports from South Korea dipped by 32% in Feb`20

The nation`s imports from South Korea slashed by 32% M-o-M basis to 0.15 MnT in Feb’20 over 0.22 MnT in the previous month.

India`s finish-flat steel imports from Japan surged to 0.06 MnT in Feb’20 as compared with 0.04 MnT in Jan` 20.

However, imports from China tumbled by 43 % M-o-M basis to 0.04 MnT in Feb’20, which was 0.07 MnT in the preceding month.

Imports at Mumbai port down by 8% in Feb`20

Finish-flat steel imports at Mumbai port declined by 8% to 0.11 MnT in Feb’20 over 0.12 MnT a month ago.

Imports at the Chennai slimmed by 17% to 0.05 MnT in Feb’20 compared with 0.06 MnT in the previous month.

Meanwhile, imports at Mundra port tumbled to 0.04 MnT in Feb’20 from 0.05 MnT in the preceding month.

Also, imports at Kandla port in Feb`20 stood at 0.02 MnT which was 0.06 MnT in Jan `20.

Meanwhile, in Feb’20, imports at JNPT port at 0.03 MnT, and Dahej at 0.01 MnT, remained consistent against imports in Jan’20.

Party wise flat steel importers in Feb `20

POSCO India remained the largest importer in Feb` 20. Other major importers are mentioned in the table below.