Indian Billet Exports Increase in FY’20 on Renewed Chinese Buying

Indian billet exports in FY’20 increased by nearly 27% Y-o-Y to 2.8 MnT as against 2.2 MnT in FY’19. The rise in exports is attributed to increased Chinese domestic billet prices which resulted in mills booking imported billets. Apart from China, Nepal, Sri Lanka, Indonesia, Philippines, and Thailand remained as the top importers of Indian billet in FY’20.