Indian Plate Export Prices Move Up Amid Hike in Global Offers

Amid hike in global prices and improved realizations from overseas buyers, Indian steel mills have raised their plate export offers.

A recently concluded deal for about 30,000 MT HR plates by a major Indian steel maker was concluded at higher prices against last offers heard. The plates offered had specifications as mentioned alongside - S235/S275JR+AR & S355J2+N.

According to market sources report to SteelMint, the deal was concluded in the range of USD 575-590/MT, CFR Europe, which is equivalent to USD 535-550/MT, FoB India. 

Plate export offers in other major markets across the globe continue to remain on the higher side. China’s heavy plate export offers increased for 6th consecutive week and is presently assessed at USD 480-485/MT, FoB.

Indian plate exports up 46% in Q1 FY18:

According to provisional data released by Joint Plant Committee (govt. Of India) Plate exports from India were recorded at 93,380 MT in Q1 FY18 compared to 63,990 MT in Q1 FY17. Thus plate exports have increased by 46% Y-o-Y in 1st quarter of current fiscal.

Out of total quantity of plates exported from India in Q1 FY18, Spain accounted for largest share of 53% followed by Belgium with share of 27%. Other major destinations for Indian plate exports were - Sweden, Portugal and Nepal.

SAIL’s plate export tender

Steel Authority of India Limited (SAIL) had floated a global tender for export of prime mild steel non-alloy hot rolled plates of 5,000-14,000 MT quantity for Sept’17 shipment. The material will be of specifications - S235/S275JR+AR & S355JR/S355J2+N. Bid due date for the same was on 28 Jul’17 at 17:00 hrs.