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 14:30 hrs on 08 Jan’19. Amid lukewarm response, the company extended the due date till 18th Jan’19 and again extended till 29th Jan’19.
In the latest update received, the tender received a dull response and was canceled. The company has now floated a fresh tender for the same quantity which is due to expire on 12 Feb’19.
The material offered has specification – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.15% Max. The shipment is scheduled between 05-15 Mar’19 from Paradip port.
Competitive pig iron offers from other nations: SteelMint learned in conversation with market participants that offers from other countries are competitive. Offers from CIS nations is learned to be around USD 325/MT, FoB Black Sea. Brazil pig iron export offers are heard around USD 315/MT, FoB levels.
NINL domestic pig iron circular expiring today – The latest offers by the company floated for Steel grade is at INR 26,900/MT (USD 379/MT), prices are basic, ex-Cuttack, East India.
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