Neelachal Ispat Nigam Limited (NINL), India's largest state owned Pig iron producer and exporter, has finalized deal for the additional lot of 30,000 tons export tender, as offered on the 19th of June.
Specification: Basic grade and Si% Up to 1.24
LG International (South Korea) has been awarded the second lot at $373.02/MT FoB Paradeep Port, for shipment to take place during the end of August, which was the first half of August earlier.
The importer were looking forward to wind up an export deal for shipment scheduled in late August only.
And hence, was comfortable for the above deal at around 10 dollars more, as it was the second highest bidder for 2 lots at $363.15/MT FoB, on the 3rd of July.
The material is to be received by mid September and would give better realizations then, on expectations of improvement in international Pig iron offers.
It has been heard that Prime Carbon GmbH (Switzerland), the highest bidder was also interested to take the 2nd cargo at similar prices.
But, NINL offered it to the South Korean party to develop further business relations with it.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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