According to customs data maintained with SteelMint, Vedanta is to export 30,000 MT pig iron from Goa via vessel named ‘IVS Raffles’. The vessel is expected to arrive at port on 16 Nov’17. Vedanta is one of the largest merchant pig iron supplier in Indian market.
As per market sources the vessel is likely to be shipped to South Korea and the deal was heard to have concluded around USD 335-340/MT, FoB India. However no confirmation regarding deal price and destination was received from company officials.
Indian pig iron export price assessment is at around USD 330/MT, FoB India. A merchant Indian pig iron manufacturers was heard offering material at USD 350/MT, FoB India but buying interest remained at lower levels than the offer.
Pig iron export offers from CIS nations are heard around USD 330-340/MT, FoB Black Sea.
Indian pig iron exports in CY17 – Indian pig iron exports stood at 0.5 MnT during Jan-Oct’17. MMTC which exports on behalf of NINL remained the largest exporter at 0.22 MnT followed by Vedanta at 0.15 MnT and RINL at 0.07 MnT.
Thailand has remained by far the most preferred destination for Indian pig iron exports and has contributed for a share of 46.7% followed by United States with share of 14%. Taiwan, Bangladesh and Italy have remained the other major destinations.
Leave a Reply