Indian Pig Iron Export Falls by 40% Y-o-Y, while Russia and Brazil rise by 15% and 6.5% respectively in 2015.
Slowdown in steel sector all across the globe during 2015 had hit Indian Pig iron exports to great extend. Pig iron exports from India witnessed a fall of around 40% Y-o-Y in 2015. India recorded total exports of 420,500 MT Pig iron during 2015 against 741,000 MT in last year.
Competitive billet offers from China had further added to the pressure for Indian manufacturers, as South East Asian nations which fell among the most favored destination by Indian exporters have seen shift in interest from Pig iron to affordable billets. Indian exports to Thailand and South Korea were recorded at 246,000 MT and 69,000 MT respectively in 2015.
Pig iron exports from Russia rise by around 15%
Despite poor sentiments at global market, Russian Pig iron export market have witnessed rise of around 15% in 2015, recording export at around 4.7 MnT in 2015 against 4.1 MnT in 2014.
The top export destination of Russian exporters in 2015 was US (accounting for about 45% of the total Russian Pig iron exports) followed by Spain, Italy, Turkey and Taiwan
Pig iron exports from Brazil inched up by 6.5%
As per country’s foreign trade ministry report, Pig iron exports from Brazil have witnessed increase by 6.5% Y-o-Y in 2015. The country has exported around 2.75 MnT, against 2.58 MnT in 2014.
Alike Russia, Brazil exported the majority of Pig iron to US market, but recorded a fall of around 10.1% Y-o-Y, to 1.6 MnT from 1.78 MnT.
Meanwhile, Pig iron exports from Brazil to Netherlands and Mexico increased to 286,700 MT and 250,000 MT respectively in 2015 (from 223,850 MT and 98,200 MT in 2014).
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