India, one of the largest exporter for pig iron has registered a sharp growth in exports in H1 2017 against same preceding last year which was quite low, as per the data maintained by SteelMint statistics .
Statistics showed total bulk exports for pig iron in H1 (Jan-Jun) CY 2017 at 400,000 MT, surge by 185% against 140,000 MT in the H2 2016. While, in the H1 (Jan-Jun) of CY 2016, the export was only 30,000 MT.
Exports has gain momentum due to sharp surge in global Scrap, Coal & Billet prices amid absence of Chinese cargoes. The exports have been successful with the presence of major giants like MMTC, Vedanta, RINL & SAIL.
India’s monthly bulk exports the data showed 42,500 MT during Jul’17 against 68,500 in Jun’17, down by 38% M-o-M.
Country wise exports –
During 2017 (till June), the largest importers of Indian pig iron was Thailand (43.25%), United States (18.23%), Taiwan (9.80%) & Italy (7.97%).
India’s largest exporter in this period was – MMTC 0.16 MnT followed by Vedanta 0.14 MnT, RINL 0.07 MnT & SAIL 0.01 MnT.
And the major exports were done from the Indian ports – Paradeep (39.87%), Mormugao (35.02%), Vishakhapatnam (18.23%), Jaigarh (5.06%) & Haldia (1.82%).
Production Performance –
In 2017, Indian producers maintained production at similar levels as last year. In the report publish by JPC (Joint Plant Committee), the nation’s sale- able pig iron production reported at 4.60 MnT in H1 CY17; unaltered against H1 CY 2016.
While, in CY 2016 the country’s sale-able production was reported at 9.44 MnT against 9.69 MnT in CY 2015.
Latest Updates
1. The global export offers for basic grade Pig Iron are currently at USD 335/MT FoB India, USD 340/MT FoB Russia & USD 360/MT CNF Italy.
2. NINL, domestic pig iron offers are reported for Steel (N1) grade at INR 23,000/MT (USD 353) & Foundry (N2) grade at INR 23,500/MT (USD 361); prices are basic, ex-Cuttack, East India. The prices spurt by INR 3,000/MT (USD 45) against the last trade by the company in the month of June 2017.
3. Bulk Pig Iron Exports by Vedanta Resources for FY 2016 was around at 59,000 MT and for FY 2017 it was about 117,350 MT, as per SteelMint assessment
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