An Indian mill is learned to have concluded a 30,000 MT pig iron export deal recently, SteelMint learned from market sources. The deal is learned to have been concluded recently to SE Asia at around USD 330-335/MT, FoB India and is expected to be Sept shipment.
Towards the beginning of Aug SteelMint reported Indian mill heard to have concluded a bulk parcel of 50,000 MT granulated pig iron (GPI) a week back to China at around USD 340-350/MT FOB India east coast, SteelMint learnt from market sources.
Global pig iron market has remained silent amid seasonal weakness. CIS pig iron export assessment stands at USD 340/MT, FoB Black Sea.
Last week, a pig iron export tender for 25,000 MT from an Indian govt owned unit was due. As per sources, the tender was cancelled amid limited participation.
Domestic pig iron prices in India have come down by upto INR 1500/MT in a month’s time following decline in billet prices and weak finished steel demand. SteelMint’s assessment for Steel grade pig iron in Durgapur was recorded at INR 24,000-24,500/MT, down INR 1200/MT M-o-M.
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