Indian billet export, which had touched an all time high level in May’16 to about 208,000 MT, fell drastically by 73% to 56,996 MT in Jun’16.
Italy contributed 37% of total export from India, followed by Bangladesh (35%) and Nepal (8%) in Jun’16. Sri Lanka didn’t import Indian billets in Jun’16 against imports of 23,000 MT in May’16.
Export steeply fell as the government of Bangladesh in last month budget on 2 Jun’16 has imposed import duty (20%) on import of billet coming from all origin, leading to sudden drop in billet import in the country. India is one of the major billet exporter to Bangladesh due to low freight cost amid less dispatch time.
In the month of May’16, Indian billet export to Bangladesh was 1,31,127 MT, which dropped in Jun’16 to 19,908 MT.
Indian billet/bloom export
| Month | Bangladesh | Nepal | Sri Lanka | Italy | Others | Total |
| Oct’15 | 19,995 | – | – | – | 21 | 20,016 |
| Nov’15 | 35,008 | – | – | 15,243 | 21 | 50,272 |
| Dec’15 | 9,227 | – | – | 10,299 | 75 | 19,601 |
| Jan’16 | 39,443 | – | – | 9,644 | 46 | 49,133 |
| Feb’16 | 89,503 | 1,375 | – | 10,299 | 45 | 1,01,222 |
| Mar’16 | 55,579 | 761 | – | 16,434 | – | 72,774 |
| Apr’16 | 20,888 | 6,578 | – | – | – | 27,466 |
| May’16 | 1,31,127 | 10,168 | 23,007 | 26,485 | 17,213 | 2,08,000 |
| Jun’16 | 19,908 | 4,637 | – | 21,235 | 11,216 | 56,996 |
| Total | 4,20,678 | 23,519 | 23,007 | 1,09,639 | 28,637 | 6,05,480 |
Provisional Data, Qty in MT
Source: SteelMint Research, Custom Data
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