Indian Flat Steel Exports Increase Three Fold in H1 CY17

High global prices resulting in improved realizations raised flat steel exports from India.

According to provisional customs data maintained with SteelMint,India has witnessed sharp increase of three times in flat steel export volumes in H1 CY17. Country has exported 5.14 MnT of flat steel in first half of 2017 in contrast to 1.67 MnT in similar time frame of previous year.

However on M-o-M basis nation’s finish flat exports declined by 18% to 0.54 MnT in Jun’17 against 0.66 MnT in May’17.

Moreover on yearly basis,India’s flat steel exports jumped by 38% to 0.54 MnT in Jun’17 in comparison to 0.39 MnT in Jun’16.

HRC/Plates occupied share of 57% in Indian flat steel exports in H1 CY17 -India exported 2.93 MnT of HRC/Plates in Jan-Jun’17 against 0.39 MnT in similar time frame of previous year.Similarly other flat product exports like GP/GC assessed at 1.13 MnT, electrical sheets stood at 0.17 MnT and CRC at 0.88 MnT in first half of 2017.

Italy was the major flat steel importer from India in H1CY17– Italy was the major flat steel importer from India and has imported 0.78 MnT in H1CY17 and (accounted for 15% of share) in contrast to 0.39 MnT in H1CY16.Other major flat steel importers from India in first half of 2017 are Vietnam (0.73 MnT) and Belgium at (0.63 MnT).

Decline in Chinese flat steel export volumes along with better export realizations resulted to boost in export volumes from India.

Indian HRC export offers jumped by 36% in H1 CY17-In H1CY17 the average prices for Indian HRC export offers surged by 36%, Y-o-Y basis and was at USD 495/MT against USD 365/MT in H1CY16.