Indian flat steel exporters continue to hold their offers similar to last week.
Although flat products prices in global market have surged remarkably, Indian primary steel producers are not making any export offers in the market currently.
The reason being higher cost of production and better sales realizations in the domestic market. Post government measures flat products prices from manufacturers end have increased by INR 7000-8000/MT.
Last HRC export offers from India were heard at USD 430-435/MT and for CRC at USD 520-530/MT, FoB India basis. But looking at rising offers from Chinese suppliers, Indian offers should be higher by at least 20-25/MT USD.
“There are no firm offers from Indian manufacturers, although price (HRC) idea should be around USD 450-455/MT FOB. No deals have heard concluded recently.” said a trader based in Mumbai.
Indian Flat Steel Exports
As per the provisional customs data, India’s flat steel exports under HS code 7208, 7209 and 7210 have plunged by 20% to 0.44 MnT in Oct’16 against previous month of Sep’16. The same stood at 0.55 MnT in Sep’16.
HS code 7208 covers HRC and plates, 7209 covers CRC and 7210 includes GP/GC.
If Y-o-Y comparison is done, then country’s flat steel exports have increased in Oct’16 as compared to Oct’15. The same was recorded at 0.15 MnT in Oct ‘15.
In the duration of seven months from (Apr-Oct) of 2016 nation’s flat steel exports have dropped by 19% to 2.77 MnT against 3.44 Mnt in the same time period of previous year.
If we analyze the product-wise exports, HRC/plates exports under HS code 7208 have registered a fall of 37% IN 2016 against previous month and stood at 0.17 MnT.
India’s CRC exports under HS code 7209 have remain unchanged and stands at 0.12 MnT in Oct’16 and Oct’15. Whereas GP/GC export numbers fell by 6 % to 0.15 MnT in Oct ‘16 against 0.16 MnT in Oct ‘15.
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