Indian hot rolled coil exports fell 20.4% month-on-month in October to 223,160 tonnes, reversing the recent growth trend, according to provisional Cybex customs data accessed by Kallanish.
This follows a 77.5% m-o-m rise in September to 280,325t and an 86% jump in August to 157,902t .
The data cover HS codes under heading 7208, with the most traded being 720837, 720838 and 720839. These include HR carbon steel coil and sheet of 10mm thickness and over 600mm width, excluding stainless steel.
Vietnam, France, and Oman emerged as the top HRC export destinations in October, compared to Italy, the UAE, and Vietnam in September.
Indian HRC exports to the EU declined amid uncertainty over CBAM methodology and concerns about safeguard quota exhaustion. With European trade slowing, Indian mills sought alternative outlets in Vietnam and the Middle East.
Vietnam was the largest destination, taking 128,006t, up 318% m-o-m. Tata Steel was the biggest supplier at 95,611t, with the consignee not identified. JSW Vijayanagar Metallics followed with 32,395t, supplied exclusively to Win Faith Trading. Dhamra, Ennore and Paradeep were the Indian loading ports, while Ho Chi Minh City and Phu My were the Vietnamese discharge ports.
Overall shipments to Asia rose 209% m-o-m to 137,751t, with Vietnam accounting for 93%.
France was the second-largest market, taking 40,721t in October. ArcelorMittal Nippon Steel India was the leading supplier at 33,470t. The main consignee was not identified.
Goa and Magdalla were the Indian ports, with Dunkirk as the sole French port. Total shipments to Europe stood at 46,136t, down 71% m-o-m, with France representing 88% of the volume.
Oman was the third-largest destination, receiving 16,901t, all supplied by JSW Steel to Duferco International Trading Holding (DITH) MENA DMCC. Mumbai was the sole Indian port and Sohar the sole Omani port.
Total shipments to the Middle East reached 38,225t in October, down 50% m-o-m, with Oman accounting for 44% of Indian exports to the region.
Source:Kallanish