Posted on 02 Jul 2021
Indian hot rolled flat products exports surged 89% on-year in March to 706,278 tonnes, according to Indian commerce ministry provisional data seen by Kallanish. They also more than doubled versus February.
Shipments to Italy and Belgium surged 284% and 458% on-year respectively to 221,144t and 91,158t, as EU importers attempted to catch the beginning of the second-quarter safeguard quota window in April. Exports to Spain also reached 30,869t versus zero a year earlier.
Shipments to Vietnam surged 43% to 176,349t but those to United Arab Emirates fell 29% to 62,034t.
The average price of the most exported product – HR unpickled wide strip below 3mm thick under HS code 720839 – was $697/tonne versus $465/t a year earlier and $626/t in February 2021.
In January-March overall Indian HR flats exports rose 14% on-year to 1.3 million tonnes, with Italy, Vietnam and UAE the top markets in that order.
Source:Kallanish
