MMTC, India’s largest and state owned trading house, had floated export tender of 15,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL) for end November shipment. The due date for submission of bids was on 08 Nov’17.
The material offered had specifications – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max.
According to market sources report to SteelMint, the tender attracted limited participation from bidders. The bids fetched were heard to be around USD 330/MT, FoB.
Market participants mentioned that the received bids were not in line with company’s expectations, following which the company has canceled the tender. And they are planning to re-issue the tender.
Prior to this, MMTC on behalf of NINL had floated pig iron export tender for 30,000 MT which got expired on 13 Sept’17. According to market sources the tender was concluded around USD 380/MT, FoB.
Global Pig iron market overview
CIS pig iron export offers are heard around USD 335/MT, FoB Black Sea. Pig iron export offers from Brazil are heard around USD 340/MT, FoB Brazil.
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