Indian billet export trade has slowed down in last few months owing to lower prices in global market. Indian billet exporters are struggling to find buyers at desired prices.
Recent 25,000 MT billets offered by a large mill failed to receive response owing to high price expectation from the mill. Company was targeting a price level of USD 410/MT FOB levels but bids were heard at around USD 390-400/MT FOB India, according to participants.
Current offers for CIS origin billets are hovering at USD 395-400/MT FOB Black Sea, where as Iranian billets are at USD 385-390/MT FOB Iran. Chinese billet suppliers are out of the market owing to higher prices. Current Chinese offers for Q235 grade billets are assessed at USD 420-425/MT FOB China.
According to data maintained by SteelMint, semi finished (billet & slabs) exports from India have doubled in FY17 against FY16. In FY17, total exports were recorded at 2.16 MnT against 1 MnT in FY16.
Exports from India have increased on account of rising steel production and absence of Chinese steel billets since last one year.
Last billet export tender
Last billet (90*90mm) export tender by government owned steel mill, Vizag steel, was concluded at USD 400/MT FOB Indian east coast in the month of May 2017 for June shipment. Company is expected to come up with fresh tender in second week of June, for July shipments.
Bulk Billet/Slab Exports from India in May 2017
| DATE | PORT | VESSEL | CARGO | QUANTITY in MT | SHIPPER |
| 9-May | VIZAG | APOSTOLOS – II | BLOOM | 12,500 | JINDAL STEEL & POWER |
| 17-May | VIZAG | ORCHID | BLOOM | 10,000 | RINL (VIZAG STEEL) |
| 9-May | MORMUGAO | SAILING SKY | SLAB | 32,000 | JSW STEEL |
| 13-May | MORMUGAO | MIA S | SLAB | 20,000 | JSW STEEL |
| 28-May | MORMUGAO | ALIKI P | SLAB | 20,500 | JSW STEEL |
| TOTAL | 95,000 | ||||
Source: SteelMint Research
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