Pig iron export from India fell in FY16 (Apr’15- Mar’16) by 55% Y-o-Y. According to data maintained by SteelMint, export in FY16 was recorded at 265,900 MT against 594,710 MT in FY15. SteelMint learned that export has fallen on backdrop of lower prices in global market, which was a result of cheaper billet from China and CIS nations.
Thailand remains the top market for Indian exporters
Thailand remains the top destination for Indian Pig iron, followed by Egypt and Bangladesh. Out of total export, 217,500 MT was exported to Thailand, 25,500 MT to Egypt, 17,900 MT to Bangladesh and 5,000 MT to Saudi Arabia.
Indian Pig iron bulk shipments since 2015
| Month | Loading Port | Vessel Name | Qty in MT | Price in USD/MT | Delivery Terms | Destination Country |
Trader |
| Jan’15 | Paradip | Coreocean OL | 27,000 | 393 | FOB | Thailand | MMTC |
| Jan’15 | Paradip | HTC Delta | 39,000 | 320 | FOB | South Korea | MMTC |
| Feb’15 | Paradip | Matumba | 30,000 | 310 | FOB | South Korea | MMTC |
| Mar’15 | Mormugao | Latika Naree | 27,500 | 260 | CIF | Malaysia | SESA |
| Mar’15 | Mormugao | Ken Cape | 30,000 | 305 | CIF | Saudi Arabia | SESA |
| Apr’15 | Paradip | Maritime Champion | 28,500 | 265 | FOB | Thailand | MMTC |
| May’15 | Vizag | C. Friend | 43,000 | 260 | FOB | Thailand | RINL |
| May’15 | Mormugao | Mandarin Phoenix | 25,500 | 280 | CIF | Egypt | SESA |
| Jun’15 | Paradip | Baltic Jaguar | 44,000 | 262 | FOB | Thailand | MMTC |
| Jun’15 | Mormugao | ISS Cantata | 30,000 | 283 | CIF | Thailand | SESA |
| Jun’15 | Mormugao | Eastern Star | 5,000 | NA | CIF | Saudi Arabia | SESA |
| Jul’15 | Paradip | Loreto | 42,000 | 264 | FOB | Thailand | MMTC |
| Oct’15 | Haldia | Vinalines Star | 17,500 | 241 | FOB | Bangladesh | SAIL |
| Jan’16 | Paradip | Mardinik | 31,500 | 190 | FOB | Thailand | MMTC |
| Feb’16 | – | – | Nil | – | – | – | – |
| Mar’16 | – | – | Nil | – | – | – | – |
| Apr’16 | – | – | Nil | – | – | – | – |
Qty in MT
Source: SteelMint Stats, Custom Data
MMTC 40,000 MT tender expiring on 17 May’16
MMTC’s 40,000 MT Pig iron export tender is expiring on 17 May’16. Participants are expecting that tender will fetch high values on account of rising prices in global market. Current offers for steel grade Pig iron in domestic market are hovering within INR 19,000-21,000/MT (USD 292- 323/MT) on ex-works basis.
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