Indian Bloom Export Increases Significantly in Apr-Dec’15

Bloom export from India increased significantly in last few months amid few export shipment by Vizag Steel and other manufacturers. Export quantity touched 0.31 MnT in Apr-Dec’15.

Poor steel demand in 2015 across the globe hit Indian steel export significantly. The export numbers of semi finish from India just remained half during FY16 (Apr-Dec) compared to FY15.

As per SteelMint study, total export of semi finish from the country was 0.56 MnT in FY16 (Apr-Dec’15), which was about 1.22 MnT in FY15; reporting a sharp fall in current fiscal.

Competitive export offers for billet/bloom/slab from Chinese exporters have added to the selling pressure and emerged as inescapable threat for steel manufacturers worldwide.

In particular, Indian billet export was seen to have largely hit by Chinese square billets. Billet export, which was about 0.71 MnT in FY15, has dropped to just 0.20 MnT in FY16. While, unlike other products, bloom export witnessed a significant rise in 2015, which was about 0.08 MnT in FY15; reached to 0.20 MnT in FY16.

Few successful shipments for bloom by VIzag Steel in last few months through tender have led to increase in bloom export in 2015. Most of the shipments were made to Bangladesh.

Indian semi finish exports (in MnT) 

Provision data
Source: SteelMint Research