Indian billet exports increased by about 30% in first eleven months of 2017, according to data maintained by SteelMint stats.
Billets exports (under HS code 7207) were recorded at 2.3 MnT during Jan-Nov 2017, which was 1.75 MnT during the same period in 2016. On pro-data basis, Indian billet exports are likely to cross 2.5 MnT in 2017.
Nepal (40-50%), remained the largest importer, followed by Indonesia (15%), Sri Lanka (10%) & Philippines (5-6%).
Imports to Nepal has increased from 0.65 MnT to about 1.0 MnT per annum. This is because, Nepal’s growing economy and limited billet making facilities due to power crisis and high tariff.
Indian billet exports have been increasing on non availability of Chinese billets and higher scrap prices in global market.
Chinese long product exports (which also includes billet) have been falling consistently over past few quarters amid mandatory production cuts by Chinese government and also rising steel demand in domestic market.
Highlights
1. Chinese steel exports dropped by 31% during Jan-Nov 2017. China exported around 69 MnT during first eleven months of 2017, which was 101 MnT during same period in 2016.
2. Russian exports billet at 11.73 MnT during first ten months of 2017 (Jan-Oct).
3. Iran billet/Blooms exports stood at 1.79 MnT in first seven months of Persian year (21 March -22 October) and slab exports stood at 1.73 MnT in the same period.
4. Global billet prices increased about USD 100/MT in last one year, where as scrap prices increased by USD 50-60/MT.
5. Indian billet exports likely to increase in 2018.
Leave a Reply