Indian DRI export increased by around 87% in Nov’16. Bangladesh’s share is near to 100% in Indian DRI exports.
Indian DRI export in Nov’16 was recorded at 27,600 MT against 14,800 MT in Oct’16, growth of 87% M-o-M. Total export from India in FY17 (Apr-Nov’16) was recorded at 165,400 MT against 72,500 MT in the same preceding month of FY16; increased by 128.2%.
India’s major export destination was West Bengal (East India) as it exported around 24,200 MT sponge iron through road to Petrapole LCS port. While, rest of small quantity of 3,400 MT is being sold by Karnataka (South India) based manufacturers. And the average price of DRI deal was at INR 15,000-15,500/MT (US$ 225-230/MT) FOB, (FeM 80, 100% lumps & Bag packing) According to the Indian customs.
However, during the same period domestic trade price of C-DRI with 50% lumps and 50% fines, 78 FeM was assessed at INR 13,500-13,800/MT (USD 200-205) in West Bengal (Ex-Durgapur) & in Karnataka (Ex-Bellary) at INR 14,500-14,700/MT (USD 215-218) for 80 FeM C-DRI & 100% lumps.
Moreover, looking at price movement in key substitute product like HMS Scrap 80:20 containerized offered at US$ 245/MT CNF India & USD 260/MT CNF Bangladesh.
Indian Sponge Iron (DRI) Export since Jun’16
| Country | Jun’16 | Jul’16 | Aug’16 | Sep’16 | Oct’16 | Nov’16 |
| Bangladesh | 26,301 | 33,548 | 15,363 | 10,481 | 14,400 | 27,341 |
| Madagascar | 110 | 110 | 110 | 165 | 220 | 220 |
| Djibouti | – | 540 | – | – | – | |
| United States of America | 21 | – | 42 | 21 | 42 | 21 |
| United Arab Emirates | 40 | 40 | 40 | 40 | – | – |
| Others | 112 | 54 | 1,655 | 658 | 110 | – |
| Total | 26,584 | 34,292 | 17,210 | 11,365 | 14,772 | 27,582 |
Quantity in MT
Source: SteelMint Research, Custom Data
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