Vedanta Resources also known as SGL is one of the largest merchant pig iron suppliers in Indian market. Production of Pig Iron reported a downfall of 10% to 163,000 MT in Q1 of FY 2018 against Q1 & Q4 of FY 2017.
The Company, has seen its production going down by 10% Y-o-Y. In Q1 FY 2018 the company produced 0.163 MnT, when compared to Q1 FY 2017 production of 0.181 MnT of pig iron.
Comparison with the Quarter prior (Q4 FY 2017), the production dipped nearly 10% as the company produced 0.182 MnT as compared to 0.163 MnT in Q1 FY 2018.
According to the company reports, “Production of pig iron was lower y-o-y as well as q-o-q at 163,000 tonnes due to lower metallurgical coal availability on account of weather – related supply disruptions in Australia. Coal supplies have now normalized and production will pick up in the coming quarters.”
Vedanta Resources, one of the India’s largest pig iron producer with annual capacity of around 0.63 MnT. The company known as prime grade manufacturer for both steel & foundry grade materials and supply it largely to West, South & North regions in domestic market and aggressively exports too.
Export Analysis
According to SteelMint Statistics, Bulk Pig Iron Exports by Vedanta Resources for FY 2016 was around at 59,000 MT and for FY 2017 it was about 117,350 MT. The exports of the company almost doubled when compared it with FY 2017 Vs FY 2016.
Coming to India’s total bulk pig iron export it was recorded at 336,300 MT in FY 2017 surge by 26% against 265,900 MT in FY 2016. Further in H1 CY 2017 jumped eleven times against H1 CY 2016. Country exported 395,050 MT pig iron during Jan-Jun CY 2017 vs 34,700 MT during Jan-Jun CY 2016.
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