Posted on 01 Sep 2022
Following the 15% export duty imposition in May, Indian hot-rolled flat products exports plunged 56.47% on-year to 305,099 tonnes in June, against 700,971t a year earlier.
In April-June, Indian hot-rolled flats exports plummeted 34% on-year to 1.19 million tonnes, against 1.8mt a year earlier, Kallanish notes from Indian commerce ministry provisional data.
United Arab Emirates was the largest importer of hot-rolled flats in June, with intake dropping 9% on-year to 66,191t. Other major buyers included Turkey (63,103t), Belgium (44,599t), Italy (37,920t), Spain (29,681t), Nepal (15,474t), the UK (14,441t), Canada (10,137t) and Oman (8,819 t).
In April-June, Italy was the largest buyer, importing 279,698t, followed by Turkey (170,010t), Belgium (141,761t), UAE (129,700t), Nepal (74,173t), Spain (73,573t) and Vietnam (65,094t).
Likewise, Indian semi-finished steel exports plunged 55.26% on-year in June to 192,716t and 44% to 678,958t in April-June.
Indonesia was by far the largest market, registering 19% growth to 52,448t in June. Other markets included Italy (48,245t), Nepal (36,721t), Costa Rica (25,524t), Kenya (17,373t), Tanzania (5,711t) and Thailand (5,036t).
Major importers during April-June included Nepal (159,499t), Kenya (136,753t), Indonesia (99,995t), Italy (63,453t), Saudi Arabia (61,492t), Dominic Republic (35,029t), and the USA (30,449t).
Source:Kallanish
