Indian pig iron export market remains active on Chinese buying

One of the major pig iron producers and suppliers in India has recently concluded an export tender for around 30,000 t for early Jun’21 shipment, SteelMint learned from trade sources. The deal was heard to have concluded around $520-525/t FoB India levels (equivalent to $560/t CFR China). Indian pig iron exports to China have regained momentum after the recent announcement by the Chinese govt slashing import tariffs on pig iron to 0%, effective from 01 May’21. India exported nearly 1 mn t pig iron in FY’21 out of which the share of China was largest at 60%.