In the month of Sep’16, Indian sponge exports were recorded a fall of 34% and reached at 11,365 MT against 17,211 MT in Aug’16. East India based manufacturers are major suppliers due to favorable logistics.
However, on analyzing total exports, it increased about 115% to 1,23,100 MT in FY 17 (till Sep’16) as in the same preceding month of FY 16 it was at 57,100 MT. Steel Capacity expansion in Bangladesh is the one of the major reason behind increasing Indian semis exports.
In Sep’16, out of total DRI exports, Bangladesh contributed around 92% and rest material is being procured by Indonesia & South East Asian countries.
Currently offers for Indian sponge iron (C-DRI, 78-80 FeM) are hovering in the range of INR 13,600-15,900/MT (USD 200-240) ex- works. Where as Shredded scrap offers are assessed at USD 240/MT and billet at USD 340/MT, CFR Bangladesh.
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