“Overseas buyers bid below $396/MT for 60,000 tons Pig Iron (steel) offered by NINL through an exports tender.
The tender fetched few bids which was not up to the company's expectations.
NINL has planned to float another exports tender of the similar quantity.
It is expected to happen in the beginning of the next week”, said market sources.
“Exports market have shown improvement.and prices of Pig Iron in the international market have started moving up.
Scrap offers gain $10-15/MT in last fortnight. Hence, the tender might fetch high bids this time”, they added.
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