Indian mills conclude around 5,000 t billet export deal to Africa

Western India-based steelmakers have recently concluded a deal of around 5,000 t of induction furnace (IF)-route billets for Africa. According to market sources, the deal was concluded at around $610-620/t on FOB basis. India’s billet export volumes stood at 5.05 mnt in FY’22, a 30% y-o-y fall as against 7.25 mnt in FY21, as per customs data collated by SteelMint.