India, world’s largest sponge iron (DRI) producer, has exported about 25,800 MT sponge iron in April 2017, according to trade statistics released by Indian customs.
The exports have registered a downfall of 59% M-o-M in April’17 against 64,100 MT in March’17. While, on Y-o-Y in Apr’17 exports gained by 28% against 20,200 MT in April 2016.
Further, in the first 4 months of 2017, the country’s total export for Sponge iron was at 182,900 MT; up by approximately 122% as compared to 82,250 MT in the same preceding last year.
According to data maintained by SteelMint Statistics, Indian DRI (Sponge) exports highest ever in FY17 at 0.40 MnT which is an increase of 90% compared to 0.21 MnT in FY16. Prior to this it was at 0.23 MnT in FY15 & 0.15 MnT in FY14.
With rising country’s iron ore production & sponge iron demand across the globe, the production of sponge iron has also marked uptick by 6.36 % to 24.39 MnT in FY17 against 22.93 MnT in FY16.
Country wise:
During April 2017, the largest importer of Indian made Sponge iron was Bangladesh & Indonesia which imports about 11,000 MT & 7,500 MT respectively.
Similarly, in the total Sponge iron exports during CY2017 (Jan-Apr), the major buyers of Indian sponge iron was – Bangladesh (41.46%), Thailand (17.22%), Kuwait (15.62%) Indonesia (12.88%) & Nepal (5.05%).
In context to imports there is nil imports for DRI in India since last 3 months (Feb-Apr’17). Prior to this in Jan’17 the country imported about 0.03 MnT DRI from United Arab Emirates, South Africa & Saudi Arabia.
Updates
1. India’s fresh export offers for C-DRI lumps with Sulphur 0.03-0.05%, Phosphorus 0.05-0.07 & carbon max at 0.11-0.12% are reported at USD 285/MT CPT Benapole port, Bangladesh.
2. Jindal SAW (Rajasthan) raised pellet offers by INR 200/MT on falling iron ore imports on western region. Jindal steel (Barbil) also increases pellet offers to INR 4,100/MT on account of recent export bookings made by the company.
3. Indian domestic sponge trade activities are modest post GST (Goods & Service tax) implementation from July 01, 2017. Industry participants believe that domestic sponge prices may find stability and anticipating slow demand amid monsoon season which may lead to less output for the material.
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