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India's Hot-rolled Sheet Exports Rose in March, With Exports To The European Union Surging

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.

Short comments: In order to stabilize the price of steel products in India's domestic market, this may lead to the increase of the price of the corresponding products. You may wish to inquire about drum closure with better quality in the Chinese market.

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