Vedanta Increases Foundry Pig iron Offers by INR 1,000/MT (USD 16)
...
| Month | CY 2016 | CY 2017 |
| Jan | - | 20,000 |
| Feb | - | 26,250 |
| Mar | - | 30,100 |
| Apr | - | 25,000 |
| May | - | - |
| Jun | - | 37,000 |
| Jul | 20,000 | 11,000 |
| Aug | 21,000 | - |
| Sep | - | - |
| Oct | - | - |
| Nov | - | 30,000 |
| Dec | - | 29,900 |
| Grand Total | 41,000 | 209,250 |
Qty in MT
Source:SteelMint, Custom
Provisional Data
Vedanta Resources, a prominent foundry grade pig iron manufacturer in India, has raised prices by INR 1,000/MT (4%) for Jan'18 deliveries.
Vendanta has raised foundry grade pig iron prices on rising raw material cost and improved demand. Current offers for Foundry grade (high silicon) are assessed at INR 30,000/MT (USD 470/MT) which was at around INR 29,000/MT (USD 457), last month, on ex-Goa plant basis, excluding 18% GST. This translates to INR 33,300-33,500/MT delivered North India, which is one of the largest consuming region.
Hike in iron ore prices by key miners in India coupled with rising coking coal prices in global market is lending support to prices. The company has installed capacity of 630,000 MT pa Pig iron (foundry and steel grade).
Export Analysis
According to Vessel lineup data maintained by SteelMint stats, India's bulk pig iron exports increase sharply by 230% in 2017. India exported 575,450 MT pig iron in CY17 (Jan-Dec) against 174,250 MT in CY16. In contrast on monthly comparison, export surge near to 50% at 44,900 MT in Dec'17 compared with 30,000 MT in Nov'17.
-- In the total bulk pig iron exports during CY17, Vedanta's share was about 35% as the company has exported about 209,250 MT pig iron during Jan-Dec'17 (CY17).
-- Vedanta has exported major quantity of Pig iron to Thailand (76,350 MT), Bangladesh at 29,900 MT and rest being exported to other nations.
Vedanta Resources Pig iron exports
| Month | CY 2016 | CY 2017 |
| Jan | - | 20,000 |
| Feb | - | 26,250 |
| Mar | - | 30,100 |
| Apr | - | 25,000 |
| May | - | - |
| Jun | - | 37,000 |
| Jul | 20,000 | 11,000 |
| Aug | 21,000 | - |
| Sep | - | - |
| Oct | - | - |
| Nov | - | 30,000 |
| Dec | - | 29,900 |
| Grand Total | 41,000 | 209,250 |
Qty in MT
Source:SteelMint, Custom
Provisional Data
