Indian pig iron export prices observed a correction this week due to falling scrap price in global market.
Current export prices for Indian pig iron (steel grade) are assessed at USD 300-305/MT FOB India east coast against a price level of USD 315-320/MT FOB last week.
Recent 30,000 MT pig iron export tender by MMTC, an Indian state owned trading firm, which closed on 29 Mar’17 received lukewarm response. Tender received response from two participants and at a price level of less than USD 300/MT FOB.
However it is under negotiation and yet not concluded.
Scrap prices fall 30-35/MT
Global scrap prices have corrected by USD 30-35/MT in last few trading sessions. Current offers for HMS 80-20 have dropped to USD 265-270/MT CFR turkey against USD 295-300/MT CFR turkey last month .
Indian pig iron export details (Jan-Mar’17)
| Port | Vessel Name | Shipper | Date | Country | Next Port | Quantity |
| Paradip | Franbo Wind | MMTC | 15 Jan’17 | Thailand | Map Ta Phut | 31,500 |
| Mormugao | Lord Mountbatten | VEDANTA | 23 Jan’17 | Thailand | Rayong | 20,000 |
| haldia | VSG Dream | SAIL | 9 Feb’17 | Taiwan | Kaohsiung | 7,200 |
| Mormugao | Sea Melody | VEDANTA | 25 Feb’17 | Thailand | Rayong | 26,250 |
| Paradip | Ocean Falcon | MMTC | 12 Mar’17 | Taiwan | Taichang | 31,500 |
| Mormugao | Clipper Tarpon | VEDANTA | 21Mar’17 | N/A | N/A | 30,100 |
| Vizag | Equinox Seas | RINL | 30 Mar’17 | N/A | N/A | 47,000 |
| Total | 193,550 | |||||
Quantity in MT
Source:SteelMint, Custom
Provisional Data
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