Posted on 17 Jan 2020
Indian hot rolled flat products exports soared 172% on-year in November to 554,709 tonnes, according to Indian commerce ministry provisional data seen by Kallanish.
The most-exported product was HR unpickled wide strip below 3mm thick under HS code 720839 whose shipments reached 378,991t. Their average value was $406/tonne versus $554/t in November 2018.
Vietnamese intake of overall Indian HR flats ballooned for a third consecutive month, rising over 485% on-year to 297,712t. United Arab Emirates’ intake rose 17% to 58,812t, while China took in 58,590t versus zero a year earlier.
Taiwan took in 22,541t compared to zero a year earlier and Belgium increased intake 546% to 19,609t.
In January-November Indian HR flats exports thus rose 75% on-year to 4.998 million tonnes, with top three markets Vietnam, Italy and UAE all increasing intake.
Indian coated flats exports, meanwhile, increased 42% in November to 110,396t. The most-exported product with 64,216t, hot-dip galvanized coil, achieved an average price of $642/t versus $812/t a year earlier.
The UK took in 27,989t of coated flats in November versus zero a year earlier, Belgian intake fell -17% to 18,046t and Spanish intake was 4,081t versus zero a year earlier.
In the 11 months through November Indian coated flats exports thus fell -22% to 440,990t, with top market Belgium taking in less, but number two and three markets the UK and Spain sourcing more.
Source:Kallanish
