United States, the world’s largest importer for Pig iron reported fall in imports by 26% M-o-M & 30% Y-o-Y, the fresh released data by US customs showed.
According to customs, the nation has imported about 520,000 MT Pig iron in August 2017 against 710,000 MT in Jul’17 & at 750,000 MT in Aug’16.
During Aug’17 major imports was reported from Russia approximately 55% (290,000 MT) and rest quantities being imported from Brazil & Ukraine.
Coming to total imports in CY17 (Jan-Aug’17), the nation has imported about 3.60 MnT Pig Iron; up by 26.76% as compared to 2.84 MnT in the same preceding last year.
Prior to this, in CY16 (Jan-Dec) the country’s Pig Iron import was around 3.87 MnT & in CY15 at 4.53 MnT.
Country wise:
During August 2017, the largest exporter of Pig Iron to United states was Russia, Brazil & Ukraine which exported about 290,000 MT, 120,000 MT & 100,000 MT respectively.
In CY17 (Jan-Aug) – Russia, Ukraine & Brazil was the major Pig Iron exporter to United States which exported about 2.02 MnT (56.03%), 0.76 MnT (21.15%) & 0.63 MnT (17.54%), respectively.
Presently, the export offers of basic grade Pig Iron are assessed at USD 353-358/MT FoB Russia, USD 350-370/MT FoB Brazil & USD 360-370/MT FoB India.
As per the SteelMint analysis, in the month of August 2017, the crude steel production of United States was around 7.06 MnT and in CY17(Jan-Aug) it was approximately 54.79 MnT.
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