Indian pig iron export inquiries increases due to rising global scrap prices and supply crunch for the material.
Vedanta Resources which is one of the India’s largest merchant pig iron manufacturer and exporter is all set to export its bulk pig iron export vessel, according to data maintained by SteelMint statistics.
The vessel name E R Brighton to carry 37,000 MT Pig iron from the Mormugao port, based in West cost of India and likely to be shipped to Taiwan.
The exact deal price of this bulk vessel is not yet confirmed by the makers but it is heard near to USD 305-310/MT FoB.
Prior to this, the company’s last bulk export was recorded in Apr’17 for 25,000 MT and the deal price was about USD 310/MT FoB.
The company is known for its prime grade pig iron for both steel & foundry grade materials majorly covering West, South & North regions in domestic market with aggressively involved in export markets.
Recently, India’s pig iron export tender is concluded by MMTC in the beginning of Jun’17 for 30,000/MT at the price range of USD 307-310/MT.
Recent Updates:
In FY 17 Vedanta’s pig iron export boost almost by two-fold to 117,350 MT against 59,000 MT in FY 16.
The company has reported its highest ever pig iron production in FY17 to 708,000 MT with remarkable growth of about 8% Y-o-Y.
India’s total bulk pig iron export was recorded at 336,300 in FY17 surge by 26% against 265,900 MT in FY16.
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