India: Bulk Billet Shipments Rise Three-Fold in Sept’19
India has recorded sharp growth in billet/bloom export shipments against last month. Based on data of ports maintained with SteelMint, India has exported approximately 181,310 MT of billets and blooms in Sep’19 against around 64,000 MT in Aug’19.
Vizag Steel, JSW and SAIL were reported to be the prime exporters of the month.
SE Asia (Philippines & Thailand) remained the largest destination for bulk billet/bloom exports in Sept’19 followed by Sri Lanka, China etc.
Sharp decline in domestic steel prices and fall in off take on dull domestic market sentiments pushed Indian steel mills to go for exports.
SteelMint’s price assessment for Indian billet export falls further – SteelMint’s assessment for Indian billet export for 150*150 mm stands at around USD 380/MT, FoB India, down by USD 20/MT against last month.
Outlook - Due to ongoing production cuts, China has resumed billet imports which may lead to raise the India’s billet export figures in coming months.
Note: The export fig in article does not include Nepal figures.
source: SteelMint
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