According to data maintained by SteelMint Statistics, Indian bulk pig iron exports fall by 76% in May’17 compared with Apr’17.
According to data 25,000 MT exports reported in May’17 against 108,000 MT in Apr’17. Single shipment has been exported from India in the month of May’17 by RINL (Rashtriya Ispat Nigam Limited), a government owned steel maker. The deal was concluded in late Mar’17 at around USD 300-310/MT FOB India east coast for US.
Indian pig iron exports were quite healthy since starts of 2017, however a sharp plunge was marked in May’17 as there were no bulk deals in Apr’17 owing to depreciated Rupee, falling global pig iron and scrap prices.
In May’17, MMTC had twice cancelled its pig iron tender owing to lower bids. Its recent 30,000 MT export tender expired on 2nd June, for which the company received decent participation.
In CY2017 pig iron exports are recorded at 326,550 MT till May 2017, against total exports of 174,240 MT in 2016.
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