Ingot exports from East India reached at Qty 19,300 MT till 19th Nov’16 against Oct’16 qty 16,650 MT.
Ingot exports has gain momentum by Indian manufacturers due to the duty imposed by Bangladesh government on billets by US$ 150/MT in Jun’16.
The total exports of Ingot that Bangladesh has imported was 19,200 MT and remaining quantity is being exported to Nepal. Similar in Oct’16 the total exports, 16,550 MT was imported by Bangladesh and rest quantity by Nepal.
During Nov’16, average trade price of Ingot exports is assessed at INR 21,500-22,000/MT (US$ 315-325) ex-works, Durgapur (East India). While domestic offers were nearly INR 21,000-21,400/MT. Billet export offers increase at US$ 380-385/MT, FOB India & at US$ 375/MT, FOB China.
According to standalone Ingot manufacturers in Durgapur (east India) the exports material they have produced has low sulphur and phosphorus Ingot, for that their input cost is higher by around INR 400-500/MT than the produce material for domestic buyers. Indian Ingot is exported under HS code 7206 and mostly via road route.
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