SteelMint: Indian billet export index up by $10/t w-o-w

SteelMint’s weekly Indian billet export index moved up by $10/t to $613/t FoB India east coast, on active buying interest from China, which is a direct result of proposed steel production cuts in H2 CY’21. In the last one week, deals of over 200,000 t of billets and blooms were reported, largely for Aug’21 shipments. India exports around 500,000 t of semi-finished steel every month (including Nepal).