Indian export market has become static since the Indian manufacturers are focusing more in domestic owing to lesser sales realizations in the global market. Moreover,sluggish demand in the global market has forced the Indian exporters to adopt wait and watch mode in the export market.
As per SteelMint sources, a major steel maker has offered HRC for export to Europe around USD 510-515/MT,FoB India which is Euro 507/MT ( USD 540/MT),CFR Europe.Besides this, other Indian steelmakers are presently holding the export offers over lesser inquiries from the overseas buyers.
However,Vietnam market has become inactive as such no offers have been heard in the market.
In addition to this Chinese market has become competitive and exporting HRC in the range of USD 440-445/MT,FoB China .Hence,this provide lesser scope to Indian exporters to export HRC in the global market.
India’s Finished Steel Exports Doubled in Mar’17
As per government data, India’s finished steel exports have grown two fold and is recorded at 1.62 MnT in Mar’17 against 0.75 MnT in Feb’17.
On yearly basis also nation’s finished steel exports increased in Mar’17 compared to Mar’16 and stood at 0.62 MnT. Although in FY17 (Apr’16 -Mar’17) nation’s finished exports stood at 8.24 MnT.
Despite a fast paced growth in export quantities it is anticipated that export numbers will fall in the month of April as such no further bookings have been made for May shipments.
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