Indian billet export jumped up to over 1,20,000 MT in Sep’16, increased almost by 13% M-o-M.
Billet export in Sep’16 was recorded at 1,21,700 MT against 1,07,800 MT in Aug’16. Similarly in Aug’16, export rose to above 0.1 MnT as compared 83,250 MT in Jul’16.
Total export from India in FY17 (till Sep’16) was recorded at 5,52,800 MT against 290,000 MT in the same preceding month of FY16.
Bangladesh, remains the largest importer of Indian billet/bloom, contributes 45% of total export from India, followed by Italy (13%), Sri Lanka (12%) and others (30%) in Sep’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 335/MT, FoB India and USD 330/MT, FoB China. However, Shredded scrap offers are prevailing at USD 240/MT, CNF Bangladesh.
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