Vedanta Resources also known as Sesa Goa Limited is one of the largest merchant pig iron supplier in Indian market has release the Production report for the Second Quarter and the Half Year ended on 30th Sept 2017.
The report showed production for pig iron during Q2 FY18 (Jul-Sept’17) at 137,000 MT which fell by 16% Q-o-Q when it compared with Q1 FY18 at 163,000 MT. Similarly, on yearly premises the production slumped to 29% in Q2 FY18 against Q2 FY17 at 192,000 MT.
Further it was also noticed on half yearly calculations the productions fell by 19% to 300,000 MT in H1 CY18 compared with 370,000 MT in H1 CY17.
Reasons for the fall in production by the company stated in the reports that, “Production of pig iron was lower Y-o-Y as well as Q-o-Q due to lower metallurgical coke availability on account of weather related supply disruptions in Australia in Q1 FY2018 & local contractors’ strike in Q2 FY2018. This strike has been resolved in mid-September 2017 and production will pick up in coming quarters.”
Vedanta Resources, one of the India’s largest pig iron producer which reported highest ever pig iron production in FY17 to 708,000 MT with remarkable growth of about 8% Y-o-Y and the company known for prime grade manufacturer for both steel & foundry grade materials and supply it largely to West, South & North regions in domestic market and also exports aggressively.
Export Analysis
According to SteelMint Statistics, Bulk Pig Iron Exports by Vedanta Resources for CY2016 was around at 40,000 MT and for CY2017 (Jan-Sept) it was about 150,000 MT.
India’s total bulk pig iron export till Sept 2017 it recorded at 470,000 MT. Prior to this it was at 170,000 MT in CY16 & 390,000 MnT in CY15.
During CY17 (till Sept’17) the major exports made through – MMTC 0.19 MnT followed by Vedanta 0.15 MnT, RINL 0.07 MnT & NMDC 0.03 MnT.
The major exports during CY17 done from the Indian ports – Paradeep (47.01%), Mormugao (31.84%), Vishakhapatnam (15.35%), Jaigarh (4.26%) & Haldia (1.54%).
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