Indian Finish Long Steel Export Increases in Jan'20

Indian Finish long steel exports increased by 73.1% in Jan'20, as per the custom data maintained with SteelMint.

Finished Long Steel export in India was registered at 66,689 MT against 38,528 MT in Dec'19 on a monthly basis, whereas on a yearly comparison, the same plunged by 19.2% in Jan'20 against 82,562 MT in Jan'19.

The increasing imports by Nepal & Myanmar due to favorable construction season (i.e. from Jan to May) attributed to the considerable rise in Indian Finished Long steel export. Myanmar's import from India registered steep hike of about 1286% M-o-M and the country's current rebar buying inquiries are hovering at around USD 500-505/MT CFR.

Commodity wise- Wire rod imports were registered at 26,048 MT in Jan'20, enlarged by 197% as compared to 8,777 MT in Dec'19 followed by Rebar at 24,602 MT in Jan'20 which surged by 53% against 16,089 MT in Dec'19 and Structure exports which also increased by 17.4% to 16,039 MT in Jan'20 from 13,662 MT in Dec'19.

Unload Country wise- In Jan'20, Nepal stood as the biggest buyer of Indian finished long steel with 29,683 MT, enlarged by 224% as compared to 9,161 MT in Dec'19. Myanmar imported 11,140 MT in Jan'20 (+1286%) as against 804 MT in Dec'19 and Sri Lanka bought 3,981 MT in Jan'20 (+61%) as compared to 2,471 MT in Dec'19.