Rising export offers in global market along with high domestic pig iron prices in India have pushed Indian pig iron export offers this week.
Indian origin pig iron export price assessment have moved up by USD 10/MT W-o-W basis. Current assessment stands at USD 355-360/MT, FoB India against last assessment of USD 345-350/MT, FoB.
Price assessment have moved up amid recent export tender getting closed. According to market sources report to SteelMint, a major Indian pig iron exporter has recently closed an export tender for 6,000 MT non-alloy pig iron (specification -specification – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max) at around USD 355-360/MT, FoB India. The material shipment is scheduled to take place between 26 Dec’17-5 Jan’18.
Global pig iron export offers move up – CIS origin pig iron export offers have increased to USD 360-365/MT FoB Black Sea. On similar lines, pig iron export offers from Brazil have also increased to USD 350-360/MT, FoB.
Pig iron import offers in Italy from CIS nations is assessed at around USD 380/MT, CFR.
Indian pig iron export vessel line up – According to customs data maintained with SteelMint, Sona Alloys has recently shipped 15,000 MT pig iron export vessel. The vessel name ‘MV Izumo’ has discharged from Jaigarh port on 29 Dec’17.
Market participants mentioned that export prices are likely to remain supported amid increased prices in domestic market. Domestic pig iron prices in India have increased up to INR 600- 1200/MT this week.
Current assessment for steel grade pig iron is at INR 26,700/MT (ex-Durgapur) and INR 24,800/MT (ex-Vizag).
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