Ballooning Vietnamese intake raises Indian HRC exports again

Posted on 13 December 2019

Source: Kallanish

Indian hot rolled flat products exports soared 146% on-year in October to 616,172 tonnes, according to Indian commerce ministry provisional data seen by Kallanish. Their average price was, however, down to $444/tonne versus $595/t in October 2018.

Vietnamese intake ballooned for a consecutive month, reaching 352,941t, only 4,500t below the previous month’s tonnage and compared to 21,157t in October 2018. United Arab Emirates’ intake rose 55% to 56,757t and Taiwan imported 47,632t versus zero a year earlier. Nepal increased intake 38% to 41,366t but Italian intake fell -53% to 30,811t.

Bangladesh, Jordan, Djibouti and Kenya significantly increased sourcing from India, but South Korea took in zero versus over 30,000t a year earlier.

In January-October Indian HR flats exports thus rose 67% on-year to 4.44 million tonnes, with top three markets Vietnam, Italy and UAE all increasing intake.

Indian coated flats exports, meanwhile, rose 11% in October to 116,176t. The average price of hot-dip galvanized coil under HS code 721049 was $647/t versus $790/t in October 2018.

Top market Belgium nevertheless took in -14% less at 23,276t. The UK, however, increased intake 96% to 16,319t, while Italian intake rose to 4,886t from only 148t.

Ten-month coated flats exports fell -29% to 376,752t, with top market Belgium taking in less, but number two and three markets the UK and Spain sourcing more.


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