According to customs data maintained with SteelMint, Indian steel exports (including semi-finished and finished steel) is anticipated to cross 14 MnT in CY17. Nation may witness the drastic growth of around 80% Y-o-Y basis as exports were recorded at 7.88 MnT in CY16. It is expected that Indian steel exports are likely to jump two fold in CY17.
So far in CY17 (till Jul’17), India has exported 8.43 MnT steel out of which 5.91 MnT was flat steel, 0.39 MnT was long steel and 2.13 MnT was semi finished steel.
It is anticipated that by the year end Indian flat steel exports will be around 10 MnT, long steel exports around 0.7 MnT and semi finished steel exports around 3.70 MnT. Indian billet exports are likely to cross 2 MnT in 2017, according to SteelMint Research. India has exported about 1.8 MnT of billet in first 9 months of 2017. Nepal being the largest importer of Indian billet with 45% share.
Falling export volumes from China, high global prices and bullish sentiments have driven up Indian export market.
Indian Flat steel Exports Surged 95% Y-o-Y in Jul’17-India’s flat steel exports rose significantly by whopping 95% in Jul’17 and stood at 0.78 MnT against 0.4 MnT inJul’16. Compared to Jun’17, Indian flat steel exports recorded an increase of 44%.
However in the span of first seven months of 2017 ( Jan-Jul ‘17) country has exported 5.91 MnT of flat steel registering a three fold jump in contrast to 2.07 MnT in consecutive time frame of previous year.
Vietnam has by far remained the largest importer of Indian flat steel in CY17 and accounted for 16.12% (0.95 MnT) of share in the first seven months of CY17. Other major importers were – Italy, Belgium and UAE.
Source Steel Mint powered by Keyvan Jafari Tehrani (JTC)
