India's Hot-rolled Sheet Exports Rose in March, With Exports To The European Union Surging
Indian hot rolled flat productsexports surged 89% on-year in March to 706,278 tonnes, according to
Indiancommerce ministry provisional data seen by Kallanish. They alsomore than doubled versus February.
Shipments to Italy and Belgiumsurged 284% and 458% on-year respectively to 221,144t and 91,158t, as
EUimporters attempted to catch the beginning of the second-quarter safeguardquota window in April. Exports to Spain also reached 30,869t versus zero a yearearlier.
Shipments to Vietnam surged 43% to176,349t but those to United Arab Emirates fell 29% to 62,034t.
The average price of the mostexported 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 HRflats exports rose 14% on-year to 1.3 million tonnes, with Italy, Vietnam andUAE the top markets in that order.
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