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Published on 9/07/2020 3:16:16 PM | Source: Nirmal Bang Ltd

Metal Sector Update 9 July 2020 by Nirmal Bang

Posted in Broking Firm Views - Sector Report| #Nirmal Bang Ltd #Metals Sector #Sector Report

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India's HRC export shipments doubled in Q1 FY'21 on China demand

India’s HRC export shipments surged by 124% q-o-q to 2.19 mn t in Q1 FY’21 compared with 0.98 mn t in Q4 FY20 on the back of strong demand from China. Export volumes in Jun'20 were at 1.21 mn t, a record monthly high, according to SteelMint data. Shipments to China were 0.74 mn t in Q1 FY’21,

accounting for 34% of total exports, compared with 0.03 mn t in Q4 FY’20. Vietnam accounted for a 30% share in exports followed by UAE with 14% share in Q1 FY’21. Exports to China are unlikely to be sustainable as it is the largest HRC producer and exporter in the world and is unlikely to need man

* Indian billet export prices remain stable in recent deals

Indian billet export market was reported stable with prices remained unchanged for the second consecutive week. An Indian mill was reported to have book 20,000 t billets for China, at ...

 

* India HRC export prices flat this week on slow demand

Export prices of Indian HRC shipped to China and Vietnam were little changed this week amid slow buying in overseas markets. Steelmint assessed the CFR China and Vietnam prices for Ind...

* Indian pellet export prices higher

SteelMint's pellet index ( FoB east cost India) increased by $2/t to $99/t on Wednesday. The previous assessment was done on 1 Jul at $97/t. -- An Odisha based pellet maker concluded a...

* Indian steel market update- 8 July'20

Indian billet & rebar prices fell further by INR 100-400/t in major locations on account of limited spot trades. While sponge iron prices fluctuated marginally by INR 100/t amid su...

* India's HRC export shipments doubled in Q1 FY'21 on China demand

India's HRC export shipments surged by 124% q-o-q to 2.19 mn t in Q1 FY'21 compared with 0.98 mn t in Q4 FY20 on the back of strong demand from China. Export volumes in Jun'20 were at ...

 

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