Indian Finish Long Steel Export Down by 35% in Oct’19

Limited bookings to Nepal amid weak demand, lowered Indian steel export volumes.

Indian finish long steel exports fell by 35.2% in Oct’19, as per the custom data maintained with SteelMint.

Finish long steel export on monthly basis is registered at 53,484 MT in Oct’19 as against 82,492 MT in Sep’19, while on yearly comparison export surged by 13.6% in Oct’19 against 47,074 MT in Oct’18.

Factors could have contributed towards drop in exports is weak demand from neighboring countries where Nepal imports have narrowed down by 38% due to off season for construction activities. Also imports by Sri Lanka drop 79% on a monthly basis & recorded at 2,056 MT in Oct’19 against 9,760 MT in Sep’19.

Commodity wise- Rebar export is registered at 22,379 MT in Oct’19 down by 44.4% M-o-M as against 40,255 MT in Sep’19 followed by Wire rod at 18,961 MT in Oct’19 (-21.5%) as compared to 24,165 MT in Sep’19 and Structure drop by 32.8% to 12,145 MT in Oct’19 against 18,073 MT in Sep’19.

Unload Country wise- Nepal stood as top importer of finished long steel and on a monthly basis it stood at 19,741 MT in Oct’19, down by around 38% against 31,734 MT in Sep’19 followed by Bangladesh 7,728 MT in Oct’19 (-22.40%) against 9,960 MT in Sep’19 and Myanmar 5,483 MT in Oct’19 (+5.3%) against 5,209 MT in Sep’19.