U.S. Pig Iron Imports Rise Sharply 120% Y-o-Y in Nov'17

United States Pig iron imports jump up high by 120% Y-o-Y in Nov'17 over increased demand, the fresh released data by US customs showed.

The nation has imported about 400,000 MT Pig iron in Novt'17 against 180,000 MT in Nov'16, surge by 122% Y-o-Y. In contrary on monthly basis imports decline by 18.36% against 490,000 MT in Oct'17

During Nov'17 major imports was reported from Ukraine approximately 38% (150,000 MT) and rest quantities being imported from Russia, Brazil & South Africa.

Coming to total imports in CY17 (Jan-Nov'17), the nation has imported about 4.82 MnT Pig Iron; surge by 33.14% as compared to 3.62 MnT in the same preceding last year. Russia, Ukraine & Brazil was the major Pig Iron exporter to United States which exported about 2.60 MnT (53.94%), 1.13 MnT (23.40%) & 0.85 MnT (17.59%), respectively.

As per the SteelMint analysis, in the month of Nov'17, the crude steel production of United States was around 6.71 MnT, decline by 4% M-o-M against 6.98 MnT in Oct'17 and in CY17(Jan-Nov) it was approximately 75.19 MnT, surge by 4.37% against 72.04 MnT in CY16 (Jan-Nov)

Presently, the export offers of basic grade Pig Iron are assessed at USD 360-365/MT FoB Russia, USD 350-360/MT FoB Brazil & USD 385-395/MT FoB India.