Indian flat steel exports registered the decline this month by 9% M-o-M basis in Aug’17.According to provisional customs data maintained with SteelMint,nation has exported 0.71 MnT of flat steel in Aug’17 in contrast to 0.78 MnT in Jul’17.
Although on yearly basis,India’s flat steel exports have shown surge of 13% in Aug’17 against previous year.In Aug’16 nation has exported 0.63 MnT .
In the span of first eight months of 2017 ( Jan-Aug ‘17) country has exported 6.62 MnT of flat steel registering a two fold jump in contrast to 2.7 MnT in consecutive time frame of previous year.
Indian HRC exports remained low amid fall in global prices- In Jul’17, monthly average Indian HRC export offers were assessed at around USD 490/MT, FoB India. In Jun’17, monthly average Indian HRC export offers stood at USD 470/MT, FoB India.
India’’s HRC/Plates exports decline 21% M-o-M in Aug’17- India exported 0.38 MnT of HRC/Plates decline by 21% M-o-M basis in Aug’17 against 0.48 MnT in Jul’17.However GP flat steel exports rose by 27% to 0.19 MnT in Aug’17 against 0.15 MnT in Jul’17.Other flat products exports like electrical sheets were gauged at 0.02 MnT and CRC at 0.11 MnT in Aug’17.
Vietnam remained the largest flat steel importer however import volumes decline in Aug’17 – Vietnam was the major flat steel importer from India and has imported 0.13 MnT in Aug’17.However it registered a fall of 41% to 0.22 MnT in Jul’17.Other major flat steel importers from India in Aug’17 are Italy (0.10 MnT) ,Belgium at (0.07 MnT) ,UAE at (0.06 MnT) and Malaysia at (0.02 MnT).
Vietnam has by far remained the largest importer of Indian flat steel in CY17 and accounted for 16.41% (1.09 MnT) of share in the first eight months of CY17. Other major importers were – Italy, Belgium,UAE Spain and Malaysia.
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