MMTC- India’s largest and state owned trading house, had floated export tender of 30,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids was on 28 Aug’18. The material offered had specification – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max. The shipment for the same was scheduled between 20 Sept’18-30 Sept’18 from Paradip port.
According to trade sources report to SteelMint, the tender fetched participation from two companies and the highest bid received was around USD 385/MT, FoB India. According to market participants report to SteelMint, the company has concluded the tender close to the highest bid fetched. As per reports, tender was awarded to MMTC Transnational PTE Ltd.
Prior to this the company had floated export tender of 30,000 MT non-alloy Pig Iron on which was due on 10 Aug’18. According to market sources report to SteelMint, the tender received participation from around 3-4 companies with highest bid around USD 370-375/MT, FoB India. Amid high expectations, the company cancelled the tender.
Domestic pig iron prices remain strong – Participants claimed that NINL bagged healthy orders from domestic buyers in its last price circular Company’s last domestic price circular got expired and last offers for steel grade pig iron was at INR 27,700-28,100/MT ex-Cuttack, Odisha.
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