Market sources have informed SteelMint that Indian plate manufacturers, Essar Steel and JSPL have exported high tensile plates of grade S355 to Europe at the rate of USD 530-535/MT, CFR Europe (USD 490/MT, FOB India).
Although Chinese plates are being offered at much lower price of USD 460-470/MT, CFR Europe, buyers there are not making any import booking from China due to the ongoing anti-dumping duty investigations by European Union.
European steelmakers are reeling from global glut due to the import of cheap steel imports from China. As per sources, the average monthly volumes of plates from China to EU have increased from 30,000 tonnes in 2013 to 60,000 tonnes in 2014 to 1,16,000 tonnes (during Jan-Nov’15). Thus in Feb’16, EU launched anti-dumping duty probe on plates import from China.
If sources are to be believed, both Essar Steel and JSPL have exported 20,000 MT of plates respectively to Europe.
Indian manufacturers were not much active in plates export market after the price plunge started in the global market especially after August 2015. As China lowered down their export offers as low as USD 305-310/MT FoB basis, exports became nonviable for Indian plates sellers.
However, after the global price surge in flat products since Feb’16, Indian manufacturers have entered in to the export market once again.
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