Bulk exports of TMT (Finish Long) dipped by 24% M-o-M to 69,370 MT in Jan’18 against 91,685 MT in Dec’18, as per the vessel line up data maintained with SteelMint.
According to manufacturers, reason behind the sudden decline was better realisation in domestic trade. Most producers have been reluctant on executing rebar export orders and are rather choosing to focus on domestic deals. As per information, domestic deals have been fetching manufacturers more than INR 2,000/MT (USD 31) above export orders.
According to medium mills based in West & South India, during Jan 2018 the export buying interest for rebars was at close to USD 570-580/MT FoB India from South-East nations. However, at the same time domestic trades were made at INR 38,500-39,000/MT (USD 601-610) ex-mill. Meanwhile, the large scale producers have traded rebars at around INR 42,000-43,000/MT/MT (USD 655-670) ex-works.
Indian Finished Long Steel Bulk Export in Jan’18
| Load Port | Vessel Name | Quantity | Shipper | Month | Unload Port |
| CHENNAI | SEA CHAMPION | 41,650 | JSW STEEL | Dec’2017 | HONG KONG |
| KAMARAJAR | U THAR | 14,000 | VARIOUS | Dec’2017 | MYANMAR |
| GANGAVARAM | YAAN BAYE | 5,000 | BEEKAY STEEL | Dec’2017 | MYANMAR |
| CHENNAI | OCEAN LOHAS | 10,000 | VARIOUS | Dec’2017 | HONG KONG |
| CHENNAI | HAN HE | 10,800 | JSW STEEL | Dec’2017 | HONG KONG |
| CHENNAI | SUN UNITY | 1,035 | VARIOUS | Dec’2017 | VIETNAM |
| CHENNAI | HAN THAR | 9,200 | JSW STEEL | Dec’2017 | MYANMAR |
| GANGAVARAM | YAAN BYAE | 5,000 | BEEK STEEL | Jan’2018 | MYANMAR |
| KRISHNAPATNAM | HUANGYAN SPIRIT | 21,700 | JSW STEEL | Jan’2018 | HONG KONG |
| CHENNAI | TAN BINH 45 | 10,670 | JSW STEEL | Jan’2018 | MALAYSIA |
| KAMARAJAR | U THAR | 15,000 | N/A | Jan’2018 | N/A |
| CHENNAI | DAI DUONG QUEEN | 9,500 | JSW STEEL | Jan’2018 | N/A |
| KAMARAJAR | MAAN AUNG | 7,500 | N/A | Jan’2018 | N/A |
Quantity in MT
Source: SteelMint Stats
Finish long production surge
Further, as the demands picked, finish long production also recorded surge of around 5% in 2017 against 2016.
As per the recent data released by Joint Plant Committee, Finish long (Bar & rods and Structures) steel production in India by both large and medium/small scale producers stood at 44.86 MnT in 2017 against 42.65 MnT in 2016. Further, on monthly basis for Dec’17 production increased by around 2% to 3.72 MnT compared with 3.65 MnT in Dec’16.
On monthly analysis in Dec’17, Finish long production by large scale makers i:e; SAIL registered around 0.38 MnT (10.21%) followed by RINL 0.36 MnT (9.67%), JSW 0.22 MnT (5.91%), Tata Steel 0.19 MnT (5.10%) and JSPL 0.10 MnT (2.68%).
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