Indian Sponge Iron Exports Rise 62% in First Six Months of FY20

Indian sponge iron exports observed a jump of 62% in first 6 months of FY20 (Apr-Sep’19) against the same period in preceding year. Exports have increased on account of rising demand from neighboring countries like Bangladesh, Bhutan and Nepal.

*Indian exports were recorded at 450,000 MT in H1FY20 against 278,000 MT in H1FY19

*Out of top unload countries for sponge iron, Bangladesh imported 237,700 MT in H1FY20

*India Sponge Iron’s total export in FY’19 is recorded 685,816 MT, out of which 407,000 MT is exported to Bangladesh

*Bangladesh has 6 MnT melting capacity currently and likely to increase to 11 MnT by 2025

*Nepal and Bhutan are also emerging destination for Indian sponge iron exports.

Indian sponge iron exports (fig in MT)