Mining News Pro - As per latest released data by Indian customs, India`s billet exports dipped by 45% in July on monthly premises. The reason behind the sharp fall in exports is sky high in Indian domestic Billet prices during Jun-Jul`18.
According to Mining News Pro - India exported about 126,696 MT billets in Jul`18, fall by 45% M-o-M as against 228,662 MT in Jun`18.
As per assessment during Jun`18 Indian domestic billet prices surge near to INR 2,000-3,000/MT (USD 27-42), which is one of the major factor behind falling demand of Indian billets in the global market, specifically in South East countries.
India`s billet exports to the South East (SE) nations was nil during Jul`18 over higher export offers than the low cost CIS Billets & global scrap offers.
On an average India`s monthly billet exports to the SE countries was about 70,000-90,000 MT during Jan-Mar`18; which have been falling continuously since the prices in Indian market have started to gain.
Although, Indian billets remain in demand with Nepal`s re-rollers as exports to the Nepal remained healthier and stood at 108,538 in July`18, slightly up as against 106,789 MT in Jun`18.
