Indian semi-finished product exports, the majority of which were billet, rose 2.6% on-year in March to 184,162 tonnes, Kallanish learns from Indian commerce ministry provisional data. The average value of HS code 720719 billet exports was $396/tonne versus $483/t in March 2019.

Nepal increased intake 10% in March to 80,492t. Indonesia and Malaysia took in 28,242t and 25,388t respectively versus zero a year earlier. Italy reduced intake -43% to 20,984t but Belgium took in 15,780t versus virtually zero a year earlier.

Notably, Kenya increased intake to over 10,000t versus 3,000t a year earlier, while Sri Lanka took in -95% less at 1,582t and the Philippines took zero versus over 35,000t in March 2019.

In the first quarter Indian semis exports thus surged 133% on-year to 629,930t.

Shipments abroad of India’s other major steel export – hot rolled flat products – slumped -23% in March to 374,378t (see Kallanish passim).