India's Billet Exports Fall Sharply on Domestic Price Surge
As per latest released data by Indian customs, India's billet exports dipped by 45% in July on monthly premises. The reason behind the sharp fall in exports is sky high in Indian domestic Billet prices during Jun-Jul'18.
India exported about 126,696 MT billets in Jul'18, fall by 45% M-o-M as against 228,662 MT in Jun'18.
As per assessment during Jun'18 Indian domestic billet prices surge near to INR 2,000-3,000/MT (USD 27-42), which is one of the major factor behind falling demand of Indian billets in the global market, specifically in South East countries.
India's billet exports to the South East (SE) nations was nil during Jul'18 over higher export offers than the low cost CIS Billets & global scrap offers.
On an average India's monthly billet exports to the SE countries was about 70,000-90,000 MT during Jan-Mar'18; which have been falling continuously since the prices in Indian market have started to gain.
Although, Indian billets remain in demand with Nepal's re-rollers as exports to the Nepal remained healthier and stood at 108,538 in July'18, slightly up as against 106,789 MT in Jun'18.
source: SteelMint
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