Billet exports from India recorded 3 month’s high in Jun’18, Nepal remained the largest buyer and imported near about 47% of Indian Billets.
India exported about 228,662 MT billets in Jun’18, highest since Apr’18, also it surge near about 35% (60,000 MT) M-o-M as against 168,397 MT in May’18.
Other major export destinations during the Jun’18 were Sri Lanka(10%), Indonesia(9%) & Italy (8%).
Indian billet demand continued to remain strong in the global market over limited supply from China amid uncertainty in global scrap prices. Also devaluation of Indian currency against US dollar one of the major factor behind rising Indian steel exports.
Total export from India in CY18 (till June) was recorded at 1,214,757 MT against 1,292,389 MT in the same preceding month of CY17.
Current billet export market:
Indian induction grade billet export offers to Nepal at around USD 515-518/MT ex-mill, Durgapur. CIS billet export price assessment is around USD 475/MT, FoB Black Sea. Although no Chinese billet export offers were heard but assessment stands at USD 535-540/MT, FoB.
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