Exports of hot rolled flat products from India rose 89% in March to 706,278 tons, according to preliminary data from the Indian Ministry of Commerce. They also more than doubled from February.
Shipments to Italy and Belgium are up 284% and 458% year-on-year, respectively, to 221,144 tons and 91,158 tons, as EU importers tried to catch the start of the safeguard window for the second quarter in April. Exports to Spain also reached 30,869 tonnes against zero a year earlier.
Shipments to Vietnam rose 43% to 176,349 tons, while shipments to the United Arab Emirates fell 29% to 62,034 tons.
The average price for the most exported product – untreated wide strip less than 3 mm thick under HS code 720839 – was $ 697 per tonne versus $ 465 per tonne a year earlier and $ 626 per tonne in February 2021.
In January-March, total flat steel exports from India grew by 14% year-on-year to 1.3 million tonnes, with Italy, Vietnam and the UAE being the leading markets in this order.