Unlike other countries like Russia, Brazil, Latin America and Iran, Indian manufacturers are not quite active in slab export market. There is hardly any export deal that had been heard in Indian market in last one year.
However, as per the provisional customs data, in last two months, May and Jun’16, India manufacturers have exported a total of 52,554 tonnes slabs to countries like Italy, US and Indonesia.
In May’16, India exported about 30,000 tonnes of slabs. Out of which, 15,000 tonnes of slabs was exported by SAIL to Italy and the exported consignment was of stock lot material. The remaining 15,000 tonnes of slabs was exported by JSW Steel to US. However, this entire export was for pipe mill division of its own steel plant located in Texas, US.
In Jun’16, about 21,685 tonnes of slabs have been exported from India to Italy and Indonesia.
Last week SteelMint has reported that South Korean steel major, Hyundai Steel was looking out for slab purchase from India. The reason being maintenance work being carried out at one of its blast furnaces in Danjin, Central South Korea.
The company had even sent its team for inspection of slabs that are being manufactured by one of the Indian steel majors, Bhushan Steel.
The slab export offers from India are hovering in the range of USD 340-350/MT, FoB India basis.
Global Slab Offers
CIS-origin slab offers are currently heard at USD 320-330/MT, FoB Black Sea. Slab offers from Latin America are assessed at USD 340-50/MT, FoB basis. Latin Amercia’s slab offers are at USD 350/MT, FoB basis.
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