Indian billet exports continues on downward trend in Nov’16 and it also declined by 42% M-o-M. Similarly in Oct’16 billet exports was down by 25% and recorded at 93,000/MT as against in Sep’16 at 1,21,700 MT.
In Nov’16 total exports were recorded at 54,150 MT and out of them major quantity of 16,150 MT exported to Italy and rest material is being sold to Saudi Arabia, Sri Lanka, United Arab Emirates & Bangladesh.
In YTD (year to date, till Nov’16) exports are recorded at 9,23,000 MT which is up by 92.33% as during same preceding last year it recorded at 4,80,000 MT.
Indian billet exports decreased as Bangladesh Importers prefers to import pencil ingots due to nil duty against billet at USD 150/MT.
Current offers for 150*150 mm billet are assessed at USD 383/MT, FoB India and USD 395/MT, FoB China. However, Shredded scrap offers are prevailing at USD 278/MT, CNF Bangladesh.
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