MMTC, through an export tender on behalf on NINL, had offered 30,000 MT Pig iron to international buyers on 11 Dec, 2013.
On 23 Dec, the exporter received highest bid at USD 392.33/MT FoB Paradip Port from the Switzerland based trader Prime Carbon GmbH. Another Singapore based trader MMTC Transnational Pte Ltd (MTPL) had participated on behalf of Starcom Resources Pte Ltd and bid at 389.61.
Today, MMTC decided to close the deal with the highest bidder. Specification of the material is N1/Steel grade & Si is up to 1.24%. Shipment of the material will take place between 20-31 Jan, 2013.
The exporter has received higher realizations by around INR 550/MT from export market in comparison to domestic prices at INR 23,500/MT (ex plant).
MMTC’s Pig iron Export Deals in Q3 FY14
| Date/Month | Qty (in MT) | Trader | Price (USD/MT FoB) | Delivery Schedule |
| 31-Dec | 30,000 | Prime Carbon GmbH (Switzerland) |
392.33 |
20 to 31 Jan |
| 14-Nov | 30,000 | Prime Carbon GmbH (Switzerland) |
396.02 |
20 to 31 Dec |
| 11-Nov | 30,000 | Prime Carbon GmbH (Switzerland) |
390.02 |
25 Nov to 10 Dec |
| 4-Oct | 30,000 | MMTC Transnational Pte Ltd (Singapore) |
373.58 |
By Nov 10 |
MMTC is India’s largest international trading company and offers Pig iron for exports on behalf of NINL (Cuttack), the largest Pig iron producer and exporter in India with 0.85 MnT pa installed capacity. The former sets domestic Pig iron prices for NINL too.
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