India, one of the world’s largest semi finished exporter, has exported about 110,000 MT Billet in June 2017, according to trade statistics released by Indian customs.
The exports have registered a downfall of 15.38% M-o-M in June’17 against 130,000 MT in May’17. Nepal remained the favorable destination during the month as it procured approximately of 45% material & near 27% exported to Bangladesh, rest quantity was sold to South East Asian countries.
On yearly analysis, in June 2017 exports registered a rise of 10% against 100,000 MT in June 2016. Further, in the H1 2017 (Jan-Jun), the country’s total export for Billet was at 1.29 MnT, surge by 69.80% against same duration in last year at 0.76 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 with biggies like JSW Steel, Vizag Steel, SAIL and JSPL. The rising crude steel production of India was marked at 95.76 MnT in 2016 with rising Steel demand from International market. In 2017 (Jan’17-Jul’17) the figure of crude steel production stood at 57.99 MnT.
Country wise exports:
In June 2017, the largest importer of Indian originated billet was Nepal (50,000 MT), followed by Bangladesh (30,000 MT), Indonesia (10,000 MT) & Saudi Arabia (10,000 MT).
In the total Billet exports during CY 2017 (Jan-Jun), the favorable export destination of Indian Billet was – Nepal (42.59%), Indonesia (13.05%), Thailand (7.87%), United States (7.46%) & Malaysia (5.40%).
Key Updates
1. Current offers for 150*150 mm billet of grade IS 2830 is assessed at USD 510/MT FOB India main port whereas 95*95 mm billet at around USD 505/MT FOB India.
2. India’s Vizag Steel (also know as RINL) tender is due on 6th September for 15,000 MT of billets and 20,000 MT bloom for end October delivery. As per market sources, the last billet (90*90 mm) export tender was concluded at around USD 480-485/MT, FoB India and that of bloom (150*150mm) was at around USD 480/MT, FoB India.
3. Chinese billet 150*150mm, Q235 offers assessed at USD 525/MT, FoB China.
4. In the month of August, a shipment of 27,400 MT Billet was exported to Bangladesh by JSW Steel which deal was concluded during Jul’17 at around USD 410-420/MT FOB.
5. Indian domestic billet trades remain moderate, the offers are assessed at INR 26,500-29,600/MT (USD 414-462) ex-works for Induction furnace grade and for size 100*100/125*125 mm.
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