Indian HRC bulk export shipments in Nov’19 is estimated at around 5,32,250 MT move down by 10% on a monthly basis as compared to 5,94,019 MT in Oct’19, based on data of 20 ports maintained by SteelMint.
Vietnam continues to remain largest destination for Indian HRC exports – Vietnam remains the most preferred export destination accounting for 30% of share and stood at 1,62,000 MT of the overall exports in Nov’19 against 3,26,863 MT in Oct’19.
Other major Indian HRC export destinations in Nov’19 were – China 63,000 MT, Taiwan at 52,300 MT , Spain at 40,350 MT followed by the UAE at 39200 MT and Belgium 31,000 MT.
Company wise export shipments in Nov ’19- In Nov’19, JSW exported 233,150 MT HRC,followed by Tata Steel at 1,80,600 MT and Essar steel at 52,500 MT HRC.
In Nov’19 Indian steel mills raised HRC export offers post Diwali holidays owing to improved demand and higher prices in the domestic market which in turn resulted to decline in bulk HRC export shipments in Nov’ 19.
On an average basis Indian HRC export offers stood at USD 445/MT CFR Vietnam basis in Nov’19 which was USD 430/MT CFR basis In Oct ’19.
Prior this, Indian steel mills had aggressively exported HRC to Vietnam for Oct shipments over dull demand in the domestic market and lowered HRC export offers in Oct months. Also absence of Chinese offers also be attributed for surge in HRC exports in Oct’ 19.
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