India, one of the world’s largest exporter for semi finished products, has exported about 0.13 MnT Billet in May 2017, according to trade statistics released by Indian customs.
The exports have registered a downfall of 55.17% to M-o-M in May’17 against 0.29 MnT in April’17. Nepal remained the favorable destination during the month as it procured approximately of 46% material and about 30% quantity was sold to South East Asian countries.
On the basis of yearly analysis, in May 2017 exports registered a downfall of 43.47% against 0.23 MnT in May 2016. Further, in the first 5 months of CY 2017 (Jan-May), the country’s total export for Billet was at 1.18 MnT against same duration in last year at 0.66 MnT.
Prior to this, in CY 2016 (Jan-Dec) the India’s billet export was around 1.75 MnT & in CY 2015 it was at 0.84 MnT.
India is the world’s third largest steel producer has registered production growth of 6.75 % to 97.47 MnT in FY17 for Crude steel. JSW Steel, Vizag Steel, SAIL and JSPL remain key exporters from India.
Country wise exports:
In May;17, the largest importer of Indian originated billet was Nepal (0.06 MnT), followed by United States (0.02 MnT), Malaysia (0.02 MnT), Indonesia (0.01 MnT) & Saudi Arabia (0.01 MnT). And in the month, the major export were done from Central & Eastern regions of India
In the total Billet exports during CY 2017 (Jan-May), the favorable export destination of Indian Billet was – Nepal (41.99%), Indonesia (13.36%), Thailand (8.59%), United States (8.14%) & Malaysia (5.89%).
Key Updates
1. Indian pencil Ingots and billet are not in demand in Bangladesh as there is no rebate on imports due to the removal of 15% VAT on rebars.
2. Iran’s billet export tender likely to fetch higher bids above USD 495/MT FOB, the source reported to SteelMint.
3. Current offers for 150*150mm billet of grade IS 2830 (equivalent to 5SP) is assessed at USD 480-485/MT FOB India main port (bulk shipment) whereas 3SP at around USD 475-480/MT FOB India.
4. India’s Vizag Steel (also know as RINL) tender is due on 9th August for 15,000 MT of billets and 20,000 MT bloom for end September delivery.
5. Chinese billet trade activities remains low due to higher offers, assessed at USD 500/MT, FoB China.
6. Indian domestic billet trades remain moderate, the offers are assessed at INR 26,500-28,750/MT (414-449 USD ) ex-works for Induction furnace grade and for size 125*125 mm.
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