Indian Bulk Billet Exports Stable in Jan’18; Expected to Fall in Feb’18

In the initial month of 2018, Indian bulk billet exports inched up on Month-on-Month basis in Jan’18, according to data maintained by SteelMint based on vessel line up.

Indian bulk exports of billets are recorded at 61,220 MT in Jan’18 against 60,070 MT in Dec’17, increasing marginally by 1.88% M-o-M.

In the month of Jan 2018, 5 vessels of billet have been shipped, out of which 2 vessels have been shipped by Mono Steel and 2 shipments have been reported by SAIL (Steel Authority of India) deals for which were made during Nov-end & Dec 2017.

In these shipments, the total export volume by Mono Steel was recorded at 25,000 MT deal price for which, according to market sources, is heard to be around USD 480/MT FoB India. Further, SAIL’s total volume in these both vessels are calculated at 27,000/MT which was sold at around 510/MT FoB India.

It seems that the billet exports from India may come down in Feb 2018 as there is no major export deals by the Indian large and private producers. Recently, in Jan’18, SAIL and Vizag Steels have floated export tenders and both producers have cancelled their export tender due to low bids.

According to market sources reporting to SteelMint, the producers received bids at around USD 480-490/MT while their expectations were to secure atleast USD 500-510/MT, FoB India.

In the domestic trade, realisation is quite good as compared to the export market. The Induction grade billet prices are currently hovering at INR 31,000-31,500/MT (USD 485-492) ex-works, East India & INR 33,500-34,000/MT (USD 523-531) in West India.

India Billet/Bloom Bulk Export in Jan’18

Quantity in MT
Source: SteelMint Stats