India’s Flat Steel Exports Down by 5% in Jul’16

As per the provisional customs data, India’s flat steel exports under HS code 7208, 7209 and 7225 have recorded a fall of 5% in Jul’16 against previous month of Jun’16. The same stands at 0.20 MnT in July.

HS code 7208 covers HRC and plates, 7209 covers CRC and 7225 includes electrical sheets.

If Y-o-Y comparison is done, then country’s flat steel exports remain unchanged in both Jul’15 and Jul’16 at 0.20 MnT.

If we analyze the product-wise exports, HRC/plates exports under HS code have registered a fall of 29% in Jul’16 against previous month and stood at 0.10 MnT.

India’s CRC exports under HS code 7209 have increased by 67% M-o-M basis and stood at 0.10 MnT whereas electrical sheets export numbers in Jul’16 stands to be as low as 2,610 MT.

Indian steel manufacturers are increasing their steel production despite sluggish demand in the domestic market which is an indication that exports of flat products from India are likely to increase in the coming days.

Also currently  flat products prices in the global market are at a level at which Indian manufacturers can compete in the export market and get good realizations from the overseas sales.

India’s Monthly Flat Steel Exports in 2016

Quantity in MT
Source: Customs data