India, one of the largest exporter for Sponge iron has exported around 30,000 MT sponge iron in July 2017, according to trade statistics released by Indian custom.
The nation’s monthly exports for Sponge iron is almost firm in July 2017, which is consecutively similar from past three months i.e Apr’17.
The Indian Semis (Sponge & Billet) exports are supported due to higher global scrap & billet prices amid shortage of Chinese cargoes for some time.
On the contrary Y-o-Y, exports were down by 25% against 40,000 MT in July’16.
Further, on yearly basis, in first 7 months of CY 2017 (Jan-Jul), the exports rise by 50% to 270,000 MT against same preceding last year at 180,000 MT.
India is the world’s third largest steel producer, the crude steel production of India was marked at 95.76 MnT in 2016. In 2017 (Jan’17-Aug’17) the figure of crude steel production stood at 66.46 MnT.
In the FY17, the major production growth in sponge is registered in key producing states i.e. Chhattisgarh (20.92%), Odisha (6.92%), West Bengal (51.46%) & Jharkhand (2.54%).
Country wise Exports & Imports –
During CY 2017 (Jan-Jul), the largest importers of Indian made Sponge iron was Bangladesh (49.71%) Thailand (11.73%), Indonesia (10.66%), Kuwait (10.63%) & also in line countries like Malaysia, Nepal & South Africa.
And in context to imports, in CY 2017 (Jan-Jul), Sponge (DRI) imports in India recorded at 0.06 MnT from United Arab Emirates & South Africa. However imports were nil in the month of July 2017. Prior to this in CY 2016, India imported only 0.02 MnT DRI & in CY 2015 it was at 0.04 MnT.
Latest Updates
1. India’s 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 320-325/MT CPT Benapole port, Bangladesh.
2. Indian domestic sponge iron assessment produced through coal route are assessed at INR 15,500-16,500/MT (USD 237-253); prices are ex-plant & excluding GST.
3. As per the market sources, a pellet deal of around 50,000 MT has been concluded last week at an average price of USD 114-116/MT CFR China for November shipment
4. Current offers for 150*150 mm billet of grade IS 2830 is assessed at USD 490-500/MT FOB India main port.
5. In July 2017, India imports around 0.52 MnT of Ferrous scrap & the country has registered a growth of 13% M-o-M against 0.46 MnT in Jun’17.
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