Rashtriya Ispat Nigam Limited (RINL), has floated export tender of 25,000 MT basic grade steel making Pig Iron for delivery by end Dec’17. Material offered has specifications: C: 3.5-4.5%, Mn: 0.5%(max), Si: 1%(max), P: 0.12% max, S: 0.05% max.
The due date for submission of bids is 11:00 AM on 15 Nov’17.
The bidders have the option to quote for shipment either at Visakhapatnam port or Gangavaramport. RINL shall arrive at the H1 bidder after taking into consideration the respective FoB expenses at both the ports.
Prior to this, MMTC on behalf of NINL had floated pig iron export tender for 15,000 MT which was due on 08 Nov’17. As per market sources, the tender received weak response and the company may re-issue the tender.
Indian pig iron exports stood at 0.5 MnT during Jan-Oct’17. MMTC which exports on behalf of NINL remained the largest exporter at 0.22 MnT followed by Vedanta at 0.15 MnT and RINL at 0.07 MnT.
Domestic pig iron prices weaken on dull buying interest – SteelMint learned from at Pig iron offers in East part of India – West Bengal & Jharkhand declined by INR 200-400/MT W-o-W following price corrections in billet which has led to low inquiries for pig iron.
The price assessment for the current week in East India stood at INR 23,800-24,000/MT (Durgapur) & around INR 23,500/MT (Ex-Giridih/Bokaro).
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