By Paul Ploumis 30 Sep 2015 Last updated at 03:21:23 GMT
NEW DELHI (Scrap Monster): The latest trade statistics released by the Indian Ministry of Commerce indicates that the country’s pig iron exports surged higher significantly during the month of June this year. The exports hit the highest level in fifteen months.
The country’s pig iron exports during June this year totaled 117,989 MT, nearly 67% higher when compared with the exports of 70,822 MT during May ’15. The exports were up by 1,266% when compared with the exports during the same month a year before.
During June this year, Taiwan was the top importer of pig iron from India. The Taiwanese imports totaled 88,000 tons during Jan-Sep ’14, accounting for nearly 75% of the total exports by India. This is the first time during the entire year 2015 that India has exported pig iron to Taiwan. The country had no pig iron export trade with Taiwan during the initial five months of the year.
The second largest export destination of Indian pig iron was Thailand. The exports to Thailand totaled 21,181 MT, accounting for 18% of the total Indian exports. The Indian pig iron exports to Thailand almost halved when compared with the previous month. In third place was Saudi Arabia with 5,000 tons.
The cumulative pig iron exports by India during the first half of 2015 totaled 385,618 MT, down 19.2% when compared with the cumulative exports of 477,421 MT during the corresponding half-yearly period in 2014. The largest importer of Indian pig iron during Jan-June ’15 was Thailand. The imports by Thailand totaled 151,181 MT, accounting for 39.2% share of Indian export. In second place was Taiwan (88,000 MT, 22.8% share), followed by Saudi Arabia (35,296 MT, 9.2% share). The top three destinations together accounted for 71.2% of the total Indian exports.
The annual pig iron exports by the country are estimated at around 770,000 MT in 2015.