Indian bulk billet export shipments remain stable in Jun'20

India continues to remain active in the global billet market in Jun'20 much like the preceding month, as port data, show. According to data maintained with SteelMint, in Jun India's bulk export shipments for billets, blooms, were recorded at around 760,000 t against 820,000 t in May.

China remains the biggest importer of Indian cargoes, which stood at slightly over 600,000 t, almost similar in volume to May'20 (~680,000 t), followed by Thailand (~25,000 t) and Malaysia (~20,000 t)

JSPL remains the top exporter followed by JSW and RINL, data shows.

Outlook: Indian domestic demand is witnessing a soft recovery. As it takes some time to inch up, mills are likely to remain active in the export market. We expect July export shipment numbers to be on par with May and June numbers.