Indian Mills Book Over 100,000 MT Billets in Aug’19
The Aug’19 proved out to be the exquisite month for the Indian mills as the ball park figure for billet export deals from the country reached close to 100,000 MT in the month. Vizag Steel, JSW Steel, JSPL and SAIL were reported to be the prime exporters of the month.
According to SteelMint sources, India is increasing focus towards the SE Asia considering India’s dull domestic demand resulting in extensive inventory of billets and if sources to be believed some traders are out rightly offering reasonable prices for Indian origin billets. Also participants feel it can conveniently compete with Iranian billet prices in the region.
SteelMint’s price assessment for Indian billet export fell sharply – SteelMint’s assessment for Indian billet export for 150*150 mm stands at around USD 400/MT, FoB India, down by USD 20/MT against last month.
Note: The article does not include Nepal Figures.
source: SteelMint
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