Exports of hot rolled flat products from India in September were down 20% year-on-year to 550,012 tonnes, retreating from dizzying highs since the onset of the Covid-19 pandemic.
According to preliminary data from the Indian Ministry of Commerce, China nevertheless continued to supply large volumes: 197,127 tons were received in September, up from almost zero a year earlier. However, shipments to Vietnam, which was the market leader before overtaking China in August, fell 78% to 80,335 tonnes for the second straight month.
Exports to the United Arab Emirates rose 423% to 68,946 tons, but exports to Italy and Nepal fell -56% and -4%, respectively, to 54,736 tons and 39,514 tons.
The most exported product was untreated wide strip less than 3 mm thick, HS code 720839, with shipments of 381,146 tons. Their average cost fell to $ 439 per tonne from $ 453 per tonne in September 2019, but rose from $ 414 per tonne in August 2020.
Nonetheless, India's flat steel exports in January-September continued to grow 57% to 5.995 million tonnes.
