Russia Pig iron Exports Rise 56% & Recorded Highest in Dec'17

Russia, the world's largest pig iron exporter has exported about 0.75 MnT pig iron during Dec'17, which is the highest volume of pig iron exports since 2014, the nation's custom data showed.

The exports have registered a rise of 56.11% M-o-M in Dec'17 against 0.48 MnT in Nov'17. And it was also learned that same proportion of volume rise seen in Dec'17 against Dec'16.

During Dec'17, U.S. has imported approximately 58% (0.44 MnT) of Russian Pig iron, followed by Turkey (0.09 MnT), Italy (0.06 MnT) & Taiwan (0.06 MnT). And the Pig iron import of U.S. from the nation rise by around 91% M-o-M against 0.23 MnT in Nov'17.

Yearly Analysis

While on yearly basis in CY17, the country's total exports was reported at 4.82 MnT against same preceding CY16 at 5.14 MnT, plunge by 6.22% Y-o-Y. Higher export offers over rising coal prices resulted decline in pig iron exports from Russia.

In line, on yearly premises the imports of countries like Spain, Italy, Taiwan, Germany & Mexico from Russia fallen by 20-60% in CY17.

In CY17, US remained the prime spot for Russian exports. Out of 4.82 MnT exported Pig iron, US imported around 63% of the quantity which stood at 3.03 MnT, followed by Turkey remained second largest importer of Russian pig iron and imported around 0.47 MnT which is 10% to total pig iron exports.

In context to export prices, global offers for steel grade pig Iron is assessed at USD 360-370/MT FOB India & USD 350-360/MT FOB Russia