India’s finished steel exports to China hit 2.054mn mt in the nine month period (Apr-Dec 2020) and carbon semis exports rose to 2.97mn mt.
China is India’s largest steel export market with a share of 20pc in December, while the share of exports to Italy rose to 26pc from 18pc. Share of exports to Nepal rose to 22pc from 12pc, Saudi Arabia up at 11pc from 6pc and Spain up at 8pc from 6pc in December 2020 as compared to December 2019. However, Vietnam’s share fell to 18pc from 40pc, UAE down to 13pc from 9pc and Belgium 6pc from 5pc in December 2019.
|India’s steel exports from April-Dec (9M)|
|Country||Carbon semi||Finished steel||Total|
India’s semi-finished steel exports rose by 14.7pc to 341,500mt in December, while finished steel exports fell by 3.1pc to 5,97,600mt compared to November. Steel exports continued to lag from a year ago as domestic demand improved. In Apr-Dec period, total steel exports rose by 58.5pc from a year ago.
|India’s iron and steel exports in December|
|Unit: mt||Nov||Dec||Change MoM||Change YoY||Apr-Dec||Change YoY|
Total flat steel exports rose by 26.9pc in Apr-Dec period from the prior period and contributed to 89pc share of exports, non-flat exports rose by 32.4pc. Non-alloy HRC rose to 5.453mn mt up by 43.1pc from the prior period and formed 71pc of total non-alloy exports. China was India’s top HRC importer with 36pc share.
In December, share of imports from Korea increased to 53pc of India’s total steel imports from 51pc in December 2019. China’s share declined to 20pc from 27pc, while Taiwan’s share rose to 6pc from 1pc. Imports from Japan declined to 12pc from 20pc in the prior December. Steel imports from Saudi Arabia and Thailand rose to 3pc each from nil, while share of imports from Singapore rose to 3pc from 1pc in December 2020.