Indian DRI export increased almost by 5% M-o-M in May’17, according to trade statistics released by Indian customs.
In May’17 the DRI exports from India was recorded at 27,000 MT against 25,800 MT in Apr’17, grew by 4.65% M-o-M. Bangladesh remained the favourable destination during the month as it procured approximately of 64% material.
In comparison with total exports in CY17 (Jan-May) it was reported at 209,900 MT; surge by 110% as compared to 99,800 MT during same preceding in CY16.
West Bengal (East India) based manufacturers was the major exporters of DRI in May 2017 from where small lots with total quantity of 17,000 MT, is exported through road route to Petrapole LCS port, Bangladesh. The rest of material is being exported by Central & South India based manufacturers.
Country wise:
During May 2017, the largest importer of Indian made Sponge iron was Bangladesh & Indonesia which imported 17,100 MT & 5,050 MT respectively.
Similarly in the total Sponge iron/DRI exports during CY 2017 (Jan-May), the major buyers of Indian made sponge iron was – Bangladesh (44.31%), Thailand (15.01%), Indonesia (13.64%), Kuwait (13.61%) & Nepal (4.64%).
In context to imports there is nil imports for DRI in India since February to May 2017.
Updates
1. India’s fresh export offers for sponge iron lumps with Sulphur 0.03-0.05%, Phosphorus 0.05-0.07 & carbon max at 0.11-0.12% are reported at USD 310-320/MT CPT Benapole port, Bangladesh.
2. Presently the importers/smelters in Bangladesh are in wait & watch mode due to the higher offers for DRI & Imported scrap as well.
3. Imported HMS (80:20) scrap offers from Middle east is around USD 330/MT CNF Bangladesh & USD 310/MT CNF India.
4. Indian pencil Ingots and billet are not in demand in Bangladesh as there is no rebate on imports due to the removal of 15% VAT on rebars.
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