Exports of Flat steel from India shot up drastically for Mar’17 in comparison to Feb’17. Indian flat steel exports have jumped from 0.58 MnT in Feb’17 to 1.34 MnT in Mar’17, up by 131% M-o-M
The exports were high by vast margin as the prices for flat steel in global market were high and the demand was also good from overseas buyers especially from South East Asian countries.
Some other factors that boosted exports from India were comparatively higher offers from Chinese suppliers owing to which overseas buyers preferred Indian material. Chinese HRC export offers were hovering in the range of USD 480-510/MT, FOB China in Mar’17.
Also Indian Rupee had not appreciated to the present levels and was seen trading at 64.8 against USD in Mar’17 which also favored exports.
Vietnam flat steel imports from India jump four-fold in Mar’17
The largest importing country in Mar’17 was Vietnam contributing a share of 30% for Indian flat steel exports, followed by Italy, Belgium & UAE. Vietnam flat steel imports from India jumped four-fold from 0.1 MnT in Feb’17 to 0.4 MnT in Mar’17.
Port-wise Indian flat steel exports in Mar’17
The top port for exporting flat steel from India was Goa with share of 20%, followed by Mumbai (12%), Chennai (11%), Nhava Sheva (5%) and other ports combined (52%) of the total flat steel exports from India.
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