Indian Sponge Iron Exports Rise 62% in First Six Months of FY20
Indian sponge iron exports observed a jump of 62% in first 6 months of FY20 (Apr-Sep'19) against the same period in preceding year. Exports have increased on account of rising demand from neighboring countries like Bangladesh, Bhutan and Nepal.
*Indian exports were recorded at 450,000 MT in H1FY20 against 278,000 MT in H1FY19
*Out of top unload countries for sponge iron, Bangladesh imported 237,700 MT in H1FY20
*India Sponge Iron’s total export in FY'19 is recorded 685,816 MT, out of which 407,000 MT is exported to Bangladesh
*Bangladesh has 6 MnT melting capacity currently and likely to increase to 11 MnT by 2025
*Nepal and Bhutan are also emerging destination for Indian sponge iron exports.
source: SteelMint
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