Indian Flat Steel Export Volumes Shrink to Half in Apr'17

According to provisional data released by Joint Plant Committee (govt of India) Indian flat steel export volumes have reduced to half in Apr'17 compared to Mar'17 figures owing to thin realization of sales in the global market. Falling HRC export offers and softening global demand leads to downsize in export volumes.

Indian HRC export offers were assessed at USD 500./MT, FoB in beginning pf Apr'17 came down by USD 490-495 /MT, FoB by the month end.

However flat steel exports reported a drastic decline of 63% in Apr'17 to 0.50 MnT against 1.34 MnT in Mar'17. In Mar'17 nation's export volumes registered the whopping surge of 131% M-o-M basis.

Furthermore,overseas buyers are looking keen in export offers from China as it is the cheaper alternative against Indian export offers,led to rapid decline in export volumes from India.

Belgium was the highest importer for Indian flat steel in Apr'17-
In Apr'17, Belgium stood as the major importer and accounted for 7% of exports from India.Other major importers include UAE which accounted for 6% followed by Italy and Spain.

Goa remained as major flat steel exporting port in Apr'17-The top port for exporting flat steel from India was Goa with share of 8%, followed by Mumbai (5%), Vizag (4%) and Nhava Sheva (5%).