Indian bulk exports of billets are on a high owing to non-availability of Chinese billets and higher realizations in global markets. According to data maintained by SteelMint from 32 ports, bulk exports of billets from India are recorded at 126,300 MT in Sep‘17 against 42,000 MT in Aug’17.
In our previous articles, we also reported that exports of induction grade its have picked up on low availability of blast furnace grade billets. In the month of September 11 vessels have been shipped, out of which, Mono steel shipped about 33,700, RINL shipped 29,000 MT, JSW steel 26,500 MT and SAIL loaded 20,500 MT of billets from various Indian ports.
As predicted, in 22 Sep’17 news India Bulk Billet export increased 200% in September.
Major exports took place from Kandla, Chennai & Vizag port.
Current Scenario:
Indian billet export prices have dropped on recent correction noticed in Chinese market. However participants are waiting for Chinese holidays to get over to get some direction. Last two tenders of billet by Indian state owned mills have been cancelled owing to lower bids. Indian 150*150mm billets are assessed in the range of USD 490-500/MT FOB.
Source Steel Mint powered by Keyvan Jafari Tehrani (JTC)
