MMTC’s last export deal closed at USD 5-10/MT higher, it is looking for yet another Pig iron export deal in June.
On behalf of NINL, MMTC, India’s largest and state owned trading house, issued an export tender of 40,000 MT basic grade Pig iron and its tender is scheduled on 16 Jun’15. Last export tender received bids which were about USD 5-10/MT higher, on account of improving global prices.
Synopsis of the New Export Tender
Material: Basic grade Pig iron
Origin: Indian
Quantity: Firm lot- 30,000 MT; Optional lot-10,000 MT
Loading port: Paradip Port
Shipment period: During 26 Jun-5 Jul’15
Delivery basis: FOBST Paradip Port
Destination: Any country other than banned countries
Last date for bid submission is 16 Jun’15 at 14.30 hrs. Technical bids are scheduled on the same day at 14.45 hrs. Also, price bids will open on the same day at 16.30 hrs.
Highlights of Last Export Tender
The company released an export tender on 15 May’15 with scheduled technical bids to opened on 20 May’15 for 80,000 MT (2 lots, each with 40,000 MT material) basic grade Pig iron. Deal for 1st lot i.e. 40,000 MT was finalized with MTPL at around USD 262/MT, FoB East Coast of India. Prime Carbon showed interest on second lot, but the deal was not concluded.
Company Eyes on Domestic Market
The company had released an expression of interest (EoI) for long term sale contract period starting Jul’15-Mar’16 for Pig iron in domestic market. It intends to sell minimum 2,000 MT per month through this EoI and trying to secure few of its buyers in domestic market as the export was low in FY15.
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