Bulk Pig iron exports from India fell by 90% during Jan’16- Jun’16 as compared to the same period last year. Pig iron exports were recorded at mere 31,500 MT during first six months of 2016, which was recorded at 329,500 MT during last year.
SteelMint learned that exports have moved down on backdrop of lower prices in global market, which was a result of cheaper billet from China and CIS nations. Last few tenders from SAIL, MMTC and NINL have failed to receive response. Last tender (on 27 June) by MMTC received response at below USD 240/MT, FoB Indian East Coast. However, the company has not yet finalized the deal.
Pig iron exports have dropped across the globe in 2016 due to low priced Chinese billets and falling scrap prices.
Indian Pig iron bulk shipments since Jan’15
| 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 | – | – | – | – |
| May’16 | – | – | Nil | – | – | – | – |
| Jun’16 | – | – | Nil | – | – | – | – |
Source: SteelMint Stats, Custom Data
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