India’s exports of Hot rolled coils (HRC) went up by 101pc in Apr- Dec 2019 to 3,811,000mt from the prior year period, according to official government data.
Exports of Cold-Rolled Coils (CRC) fell by 1pc to 463,000mt, from Apr-Dec from the year prior. HRCs and CRCs were the most imported and exported iron and steel products in 2019.
|Exports||Apr-Dec 2019||Apr-Dec 2018||Change|
Vietnam was the largest export market for India for HRCs at 1,879,000mt, followed by Italy at 399,000mt and UAE at 398,000mt. Exports of CRCs to Belgium were at 109,000mt, followed by Nepal at 83,000mt.
Exports of HRCs rose by 304pc to 400,000mt in Dec 2019, and CRC exports increased by 16pc to 57,000mt from the prior year. Imports of HRCs fell by 12pc to 94,000mt and CRCs fell by 82pc to 9,000mt in December from the prior year.
Imports of HRCs declined by 3pc to 1,386,000mt and that of CRCs fell by 24pc to 318,000mt in Apr-Dec.
|Import||Apr-Dec 2019||Apr-Dec 2018||Change|
The highest imports of HRCs into India were from Korea at 921,000mt, followed by Japan at 317,000mt and China at 85,000mt. India imported 195,000mt of CRCs from Korea and 67,000mt of the product from Japan in Apr-Dec 2019.
December 2019 Data
HRC exports fell by 25pc in December from the prior month. CRC exports declined in Dec 2019, after increasing in Nov 2019 from the prior month.
Increased production and limited demand in the domestic automotive sector and an increasing demand from Vietnam, pushed exports of HRCs higher.