Indian pig iron manufactures have returned to export market after a pause. According to data maintained by SteelMint , two bulk export vessels were recorded from Indian port this week.
First vessel of 20,000 MT has been exported from Jaigarh port ( India west coast) on 26th April . According to sources cargo is likely to ship to either Korea or Thailand.
Second vessel of 25,000 MT is likely to be berthed at Mormugao port (india west coast) on 28th April. According to participants, cargo is likely to be shipped to either Middle East or Europe.
Despite low export realisations, Indian manufacturers are forced to explore export market. This is due to falling demand in domestic market at current prices and possible fall in prices. Current offers for steel grade is at around INR 22,000-23,500/MT ( ex-mill, Odisha).
However, Indian manufacturers claim that exports are not viable at current levels of USD 300-310/MT FOB India. Looking at higher coking and met coke prices, manufacturers will prefer to shut down their plant rather than selling at loss.
Indian pig iron exports in 2017
Indian bulk pig iron exports have increased sharply in 2017. Exports are recorded at 193,550 MT in first three months of 2017, against total exports of 174,240 MT in 2016.
Leave a Reply