MMTC offered 30,000 MT Pig iron for export purpose through a tender on 13 Feb, 2014. The material offered is produced by NINL.
Specification of the material: Steel/N1 grade & Si% up to 1.24
Tender bids opened on 18 Feb, 2014. MMTC Transnational Pte Ltd (MTPL), a Singapore based trader and subsidiary of MMTC bid higher at USD 375.62/MT FoB in comparison to 374.52/MT FoB quoted by the Switzerland based trader, Prime Carbon GmbH.
MMTC finalized the deal last evening. It has awarded the tender to MTPL (Singapore). Shipment of the material will take place in the first week of Mar 2014, from Paradip Port on FoB basis.
Traders remarked that international market demand is low and requirement in Southeast Asia is not so high.
According to sources, Indian Pig iron exporters might have a couple of new participants from UK and Korea in FY 15. The Indian Pig iron export market is presently being dominated by the Switzerland based trader.
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