Indian billet export reduced by around 25% in Oct’16 to 93,000 MT. Thailand contributes more than 50%, which is almost three fold against exports to Bangladesh.
Indian billet/bloom export in Oct’16 was recorded at 93,000 MT against 121,000 MT in Sep’16. Total export from India in FY17 (Apr-Oct’16) was recorded at 645,800 MT against 309,600 MT in the same preceding month of FY16; increased by 108%.
Thailand imports are higher on Indian billet/blooms at 49,000 against at 18,000 MT by Bangladesh. Also it is being sold to Italy at 15,100 MT, Sri Lanka at 6,800 MT and minor quantity to Indonesia, Tanzania & Mauritius.
Indian billet exports decreases as Bangladesh Importers prefers to import pencil ingots due to nil duty against billet at USD 150/MT. It seems that Indian billet exports may remains nearly to 100,000 MT due to differential duty between ingots and billets in Bangladesh.
Current offers for 150*150 mm billet are assessed at USD 335/MT, FoB India and USD 365/MT, FoB China. However, Shredded scrap offers are prevailing at USD 270-275/MT, CNF Bangladesh.
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