India, one of the world’s largest semi finished exporter, has exported about 0.29 MnT Billet in April 2017, according to trade statistics released by Indian customs.
The exports stands at same levels as during Mar’17 it was also about 0.29 MnT. In Apr’17, the major quantity of 0.11 MnT exported to Nepal and rest is being sold to Indonesia, United States, Sri Lanka & Sudan.
The beginning of year (Jan-Apr’17) total billet exports are recorded at 1.05 MnT which surge approximately by 145% as in the preceding last year it was at 0.43 MnT.
In these 4 month’s period 2017, the major quantity of Indian billets have been procured by – Nepal (41.54%), Indonesia (13.89%), Thailand (9.66%), United States (7.28%) & Italy (4.90%).
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.
Updates
1. Vizag Steel floats open export tender for 15,000 MT billets and 25,000 MT bloom and the due date for submitting the offer is 18 Jul’17.
2. Iran’s 30,000 MT billet tender fetches higher bid. According to sources, 17 companies participated and bids were in the range of USD 410-415/MT, FOB.
3. Last, Indian billet exports to Bangladesh concluded at around USD 405/MT by JSW Steel in the month of June 2017, as reported by sources.
4. Chinese billet trade activities remains low owing to higher prices and are assessed at USD 440-445/MT, FoB China.
5. Indian domestic billet demand is moderate post GST implementation from July 1, 2017 and the offers are hovering at INR 24,800-27,500/MT (382-423 USD ) ex-works for Induction furnace grade and 125*125 mm.
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