Indian pig iron exporters have turned active following increase in global prices. Price assessment for Indian origin steel grade pig iron has moved up by USD 5-10/MT W-o-W and is at USD 345-350/MT, FoB India. Last week the assessment was at USD 335-340/MT, FoB.
Pig iron export offers from CIS nations has also moved up by USD 5/MT W-o-W to USD 335/MT, FoB Black Sea.
Global scrap prices continue to remain on higher side amid restocking activities and limited availability in winters. Today, in the latest trade deals reported US origin HMS (80:20) scrap prices have increased to USD 343/MT, CFR Turkey, up by USD 6/MT D-o-D.
Following high scrap prices, Indian pig iron exporters have also turned active and are eyeing for levels of around USD 345-350/MT, FoB India.
Two merchant Indian pig iron producers have heard to offer cargoes of around 20,000-25,000 MT each. However deals haven’t been concluded so far and they are under negotiations.
MMTC, India’s largest and state owned trading house, has floated export tender of 5,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL) for shipment period scheduled between 14-24 Dec’17. The due date for submission of bids was on 05 Dec’17.
Indian bulk pig iron exports in Nov’17 – According to customs data maintained with SteelMint, Indian bulk pig iron exports were recorded at 30,000 MT in Nov’17 against 31,500 MT in Oct’17.
In Nov’17, Vedanta exported 30,000 MT pig iron from Paradip port via vessel name ‘IVS Raffles’.
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