India’s billet exports jumped by 303pc in Apr-Sep 2020 to 4.3mn mt from the prior-year, according to government data. China imported the highest volume of billets from India at 2.76mn mt, followed by Nepal (314,000mt), Thailand (234,000mt), Indonesia (222,000mt), Sri Lanka (158,000mt), and the Philippines (144,000mt) among other countries.
In Sep 2020, India’s billet exports rose by 133pc to 625,000mt from the year prior while it up by 9pc compared to August 2020.
Indian mills actively exported since beginning of current fiscal year till September as demand was strong from the Chinese and other Southeast Asian countries while domestic demand plummeted due to COVID-19 restriction and lockdown.
Almost all primary mills are now shifting focus back to the domestic market as lockdown restrictions are being removed, industries will resume operations and construction activities will gain momentum. This is expected to decrease the volume of steel exported. For instance, Tata Steel India exported around 50pc steel in Q1 FY21, 25pc in Q2 and is expected to be around 10-12pc in Q3.
Industry leaders shared that till now flat steel market performed better than long market, but as construction activities pick-up, 70-80pc of the workforce resuming work at sites, and government pushing for infra projects, the long steel market is expected to catch-up.
Indian Billet export:
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