MMTC- India’s largest and state owned trading house, has 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 is 14:30 hrs on 26 Sept’18. 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 22 Oct’18-31 Oct’18 from Paradip port.
In mid of August the company had floated export tender of 30,000 MT non-alloy Pig Iron on which was due on 28 Aug’18. According to trade sources report to SteelMint, the tender fetched participation from two companies and was concluded at around USD 385/MT, FoB.
Global Pig iron prices remain weak – Pig iron export prices in Brazil declined sharply amid weaker domestic prices. Brazil pig iron export offers have come down to USD 360-365/MT, FoB Brazil. Pig iron export offers from CIS nations declined slightly and are assessed at USD 375/MT, FoB Black Sea against previous week’s assessment of USD 375-380/MT, FoB. However increasing global scrap prices are expected to keep prices supported.
Indian domestic pig iron prices move up on high raw material cost – NINL has today announced increase in domestic pig iron prices for steel grade by INR 1,800/MT (USD 25). As per company’s circular the latest offers for Steel (N1) grade at INR 29,900/MT (USD 411). Prices are basic, ex-Cuttack, East India. Amid decent bookings in previous orders and higher iron ore & met coke prices, Indian pig iron prices have strengthened.
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