Indian Bulk Billet Exports Fall 40% M-o-M in Feb'20 on Higher Domestic Realizations
...
During Feb'20, bulk billet/bloom exports from India were recorded at 82,681 MT to witness an M-o-M drop of 40%. The same was recorded at 137,600 MT during Jan'20.
Amid better realizations in the domestic and Nepal markets, the country showed limited interest in billet exports. One the billet majors quoted "we are also getting better margins in rebar conversion". Also, limited Chinese buying interest amid corona virus outbreak lowered exports.
SteelMint's billet export price assessment moved down by USD 10-12/MT in the last one month to USD 400/MT, FoB India by Feb'20 end. However, on the other hand, a monthly average domestic billet price in Mumbai was assessed at INR 30,876/MT (USD 431/MT; considering the average exchange rate of INR 71.58, during Feb'20), ex-Mumbai, GST extra.
JSPL was reported to be the largest exporter - JSPL registered itself as the largest exporter during the month; Feb'20. The company's exports were recorded at 29,571 MT, with a 36% share followed by SAIL and Mono Steel at 23% and 12% respectively.
Company-wise Indian bulk billet exports
| Company | Feb'20 Exports in MT |
| JSPL | 29,571 |
| SAIL | 19,110 |
| Mono Steel | 10,000 |
| Others | 24,000 |
| Total | 82,681 |
Provisional data
Source: SteelMint
