India – world’s 2nd largest steel producer has reported increase in its monthly Finish long steel exports in Nov’18.
As per custom data, the nation has exported about 49,111 MT Finish Long steel in Nov’18, up by 4.32% against 47,074 MT in Oct’18.
On the contrary Y-o-Y comparison, the Finish long steel exports has seen major drop by around 69.23% in comparison with 159,648 MT in Nov’17.
Further in comparison with Jan to Nov period the exports declined sharply by 37.7% Y-o-Y and recorded at 415,873 MT in 2018 as compared with 668,292 MT in 2017 (Jan-Nov).
Under Finish Long commodities following HS Codes has been considered – Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).
Structure has contributed the major export proportionate during Nov’18 and registered at 18,340 MT (+9.31%) followed by Wire Rod 17,220 MT (-22.4%) and Bar & Rod’s at 13,550 MT (+67.2%). The changes are mentioned are mentioned on M-o-M basis.
— During Nov’18, the largest importer of Indian Finish Long Steel was Nepal – 25,058 MT, followed by Myanmar 6,038 MT and Bangladesh at 3,322 MT.
— The current export offers from India to Nepal for Wire rod (5.5 mm) through mid size mills hovering at USD 535/MT & by large mills at around USD 570/MT CFR Nepal (Raxaul or Jogbani border).
— The export offers for the Chinese origin Wire rod (6.5 mm) assessed at USD 485-490/MT FOB.
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