Indian bulk Pig iron exports rise in August 2016 owing to improved demand from global buyers. India exported 54,750 MT in Aug against 20,000 MT in July.
Three shipments were recorded in August, out of which two shipments had been made to Bangladesh and one to Thailand. The Shipments made to Bangladesh were owned by SAIL and MMTC, which were concluded at USD 233/MT and 240/MT FOB India East Coast respectively.
Whereas, third shipment was owned by Vedanta and was concluded at USD 241-242/MT FOB India West Coast.
Pig Iron Demand Improves due to Higher Scrap Prices
Demand for Pig iron has improved in global market due to rising seaborne scrap prices. Scrap prices have gained roughly from USD 227 to 229/MT in the month of August. This is a result of limited supply of billet from Chinese suppliers which has raised billet offers and prompted steel makers to go for Pig iron and Scrap.
Indian Pig Iron Bulk Shipment since Jan’16
| Month | Load Port | Vessel Name | Quantity | Price In USD/MT | Delivery Term | Unload Port | Shipper |
| Jan 16 | Paradip | Mardinik | 31,500 | 190 | Fob | Thailand | MMTC |
| May 16 | Paradip | Bbc Iceland | 3,200 | – | Bangladesh | MMTC | |
| Jul 16 | Mormugao | Uni Challenge | 20,000 | 237-240 | Fob | Bangladesh | Vedanta |
| Aug 16 | Paradip | Uni Challenge | 15,750 | 240 | Fob | Bangladesh | MMTC |
| Aug 16 | Mormugao | Lord Nelson | 21,000 | 241 | Fob | Thailand | Vedanta |
| Aug 16 | Haldia | Asia Energy | 18,000 | 233 | Fob | Bangladesh | Sail |
Source: SteelMint Stats, Custom
Provisional Data
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