Indian Long Steel Exports Up in Nov'19 on Increased Nepal Buying

Indian finish long steel export surged by 38.5% in Nov'19, as per the custom data maintained with SteelMint. Finish long steel export on monthly basis was registered at 74,064 MT in Nov'19 as against 53,484 MT in Oct'19. Inline, on yearly comparison also export enlarged by 50.8% in Nov'19 against 49,111 MT in Nov'18.

The rising exports attributed, seasonal improved demand from the neighboring countries i.e. Nepal & Bangladesh. Also as the India's consumption of long steel fell by around 12.18% to 3,553,000 MT in Nov'19, the mills eye more towards exports to balance supply-demand in domestic market.

Nepal stood as top importer of finished long steel from India and on a monthly basis export stood at 26,888 MT in Nov'19 up by 36.20% as against 19,741 MT in Oct'19 followed by Bangladesh 13,661 MT in Nov'19 (+76.77%) against 7,728 MT in Oct'19 and Myanmar 8,518 MT in Nov'19 (+55.35%) as compared to 5,483 MT in Oct'19.

Commodity wise- Rebar export is registered at 35,135 MT in Nov'19, up by 57% as against 22,379 MT in Oct'19 followed by Wire rod at 24,841 MT in Nov'19 (+31%) as compared to 18,961 MT in Oct'19 and Structure exports also moved up by 16% to 14,088 MT in Nov'19 against 12,145 MT in Oct'19.