According to vessel-line up data maintained with
SteelMint, India is to import 21,590 MT HBI (Hot Briquetted Iron) from Iran.
The vessel named "Jaohar Rasha" carrying 21,590 MT HBI is expected to
arrive at western India (Kandla) port on 18 Apr'19. As per data received, the
importer is Welspun.
SteelMint in conversation with an Iran based market
participant learned that around 3 HBI vessels were booked towards the end
Feb'19-early Mar'19 and it is expected that remaining two vessels will also
arrive shortly.As per trade source the cargoes were booked at around USD
224-227/MT, FoB Bandar Abbas.
What is HBI ? Hot Briquetted Iron (HBI) is a premium form of
DRI. HBI was developed as a product in order to overcome the problems
associated with shipping and handling of DRI - due to the process of compaction
it is very much less porous and therefore very much less reactive than DRI and
does not suffer from the risk of self-heating associated with DRI.
The principle market for HBI is electric arc furnace
(EAF) steelmaking, but HBI also finds application as a trim coolant in basic
oxygen furnace (BOF) steelmaking and as blast furnace feedstock.
Iranian steel makers produced a total of 42.3 MnT of
finished and semi finished steel during 1st 11 months of Persian year till
Feb'19.According to Iranian Steel Producers Association's latest report, 7.09
MnT of finished and semi-finished steel products were exported from Iran during
the 11 months to Feb'19, down 4.33% Y-o-Y. Imposed sanctions on Iranian steel
products seems to be the reason behind the decline.