Indian billet export jumped up to over 100,000 MT in Aug’16, increased by around 30% M-o-M.
Billet export in Aug’16 was recorded at 108,000 MT against 83,250 MT in Jul’16. Similarly in Jul’16, export rose to above two-fold as compared 35,300 MT in Jun’16. Total export from India in FY17 (till Aug’16) was recorded at 431,000 MT against 213,000 MT in the same preceding month of FY16.
Bangladesh, the largest importer of Indian billet/bloom, contributes 48% of total export from India, followed by Italy (19%), South Korea (13%), Sri Lanka (10%) and Nepal (6%) in Aug’16.
Indian billet demand continued to remain strong in the global market due to limited supply of Chinese billet and higher imported scrap offers, which in turn increased billet buying.
Current offers for 150*150 mm billet are assessed at USD 330/MT, FoB India and USD 355/MT, FoB China. However, Shredded scrap offers are prevailing at USD 245-250/MT, CNF Bangladesh.
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