Indian Pig Iron Exports Fall by 90% during Jan-Jun’16

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

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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