Indian Flat Steel Exports Plunge in CY’18
According to the customs data release, Indian flat steel exports in CY’18 stood at 5.23 MnT witnessed steep decline by 44% as compared to 9.42 MnT in CY’17.
Meanwhile on yearly basis nation’s flat steel exports slumped by 53% in Dec'18 to 0.32 MnT as compared to 0.68 MnT in Dec’17.
Nation’s flat steel exports fell over increased prices in domestic market- In CY18 Indian steel makers have significantly rose flat steel prices over improved demand in domestic market.Thus mills were largely focusing in domestic market over global sales.
On an average basis nation's HRC prices in domestic market stood at INR 44,600/MT (ex-Mumbai) which was INR 38,800/MT (ex-Mumbai).The prices mentioned above are basic and GST extra @18% will be applicable.
However towards the end of the year CY18 domestic steel prices started falling amid softening global prices.
Meanwhile imposition of protectionist measures by European Union in July last year also shrink export volumes from India.
Also Vietnam based steel mills imported HRC majorly from China over competitive offers from Indian mills.
However on monthly premise exports remained stable at 0.32 MnT since last two months.
Indian HRC/Plate exports down by 45% in CY’18- Nation’s HRC/Plate exports stands at 2.99 MnT in CY18 fell by 45% in comparison to 5.46 MnT CY17.
Meanwhile electrical steel exports fell significantly by 48% to 0.15 MnT in CY’18 which was 0.29 MnT in previous year.
Also India exported 1.29 MnT of galvanized steel in CY’18, plunged by 37% as compared to 2.06 MnT in CY17.
However exports of CRC registered a decline of 53% to 0.71 MnT in CY18 against 1.52 MnT in the preceding year.
Indian flat steel exports to Italy decline in CY’18 - Indian flat steel exports to Italy stood at 0.73 MnT in CY18 plunged by 50% as compared to 1.46 MnT in CY17.
Other major importing nations were Belgium at 0.62 MnT in CY18 fell by 43% as compared to 1.09 MnT in CY17.
Meanwhile United Arab Emirates (UAE) imported 0.6 MnT of flat steel in CY18 decline by 36% against 0.94 MnT in previous year.
Also Vietnam stood at 0.47 MnT in CY18 which was 1.64 Mnt in CY17
However flat steel exports to Nepal increased by 38% in CY’18 at 0.58 MnT as compared with 0.42 MnT in the preceding year.
Meanwhile Spain, Malaysia, Turkey and Saudi Arabia also imported flat steel from India in CY18.
source: SteelMint
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