United States Pig iron imports jump up high by 170% Y-o-Y in Oct’17 over increased demand, the fresh released data by US customs showed.
The nation has imported about 490,000 MT Pig iron in Oct’17 against 180,000 MT in Oct’16, surge by 172% Y-o-Y. In line on monthly basis imports rise by 48.48% against 330,000 MT in Sep’17
During Oct’17 major imports was reported from Russia approximately 63% (310,000 MT) and rest quantities being imported from Brazil, Ukraine & South Africa.
Coming to total imports in CY17 (Jan-Oct’17), the nation has imported about 4.42 MnT Pig Iron; surge by 28.48% as compared to 3.44 MnT in the same preceding last year. Russia, Ukraine & Brazil was the major Pig Iron exporter to United States which exported about 2.46 MnT (55.58%), 0.98 MnT (22.05%) & 0.77 MnT (17.47%), respectively.
As per the SteelMint analysis, in the month of Oct’17, the crude steel production of United States was around 6.98 MnT, surge by 4% M-o-M against 6.72 MnT in Sept’17 and in CY17(Jan-Oct) it was approximately 68.49 MnT, surge by 4% against 65.81 MnT in CY16 (Jan-Oct)
Presently, the export offers of basic grade Pig Iron are assessed at USD 350-360/MT FoB Russia, USD 330-350/MT FoB Brazil & USD 345-350/MT FoB India.
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