MMTC, India’s largest and state owned trading house, has floated export tender of 6,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids is 14:30 hrs on 15 Dec’17.
The material offered has specification – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max. The shipment is scheduled between 26 Dec’17-5 Jan’18 from Paradip port.
Prior to this, MMTC pig iron export tender for 5,000 MT which expired on 05 Dec’17. As per sources the tender heard to have received highest bid at around USD 338/MT FOB India. And owing to expectation of higher bids, the company may have cancelled the tender, shared trade sources.
Indian pig iron exporters have turned active following increase in global prices. Price assessment for Indian origin steel grade pig iron has moved up by USD 5-10/MT W-o-W and is at USD 345-350/MT, FoB India.
Indian pig iron exporters are not aggressively offering material as most of them are booked for Dec and domestic realizations are better than exports. Notably domestic prices have increased upto INR 700/MT (USD 11) in last 10-15 days.
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