Indian Finish Long Steel Exports Fall 25% in CY18

India - world's 2nd largest steel producer has registered fall in its Finish long steel exports in CY18 (Jan-Dec) as against same period of CY17.

The Indian exports have narrowed down in line with significant rise in domestic prices, which influenced producers to deal in domestic market rather than with global buyers as competitive offers being prevail by the East Asian countries. As per assessment, Indian steel prices climb by 20-30% in CY18.

In addition India's domestic consumption being increased of Finished Steel (Non-alloy) Bars & Rods by around 8% & registered at 26.65 MnT in Apr-Dec'18 as against 24.72 MnT during Apr-Dec'17.

As per the custom data, India has exported about 898,780 MT Finish Long steel in CY18, down by 24.90% against 1,196,803 MT in CY17.

On Contrary, monthly comparison the Finish long steel exports was drifted up by around 15.17% to 56,562 MT in Dec'18 as compared to 49,111 MT in Nov'18.

Under Finish Long commodities following HS Codes has been considered - Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).

Rebar contributed the major export proportionate during CY18 and registered at 424,448 MT (-47%) against 796,454 MT in CY17 followed by Wire Rod 282,162 MT (+21%) against 232,873 MT in CY17 and Structure at 192,170 MT (+15%) against 167,475 MT in CY17. The changes are mentioned on Y-o-Y basis.

During CY18, the largest importer of Indian Finish Long Steel was Nepal - 341,701 MT (+36%), followed by Singapore 99,519 MT (-30%) and Myanmar at 96,659 MT (-38%).