Neelachal Ispat Nigam Limited (NINL) is manufacturing Steel (N1) grade Pig iron mostly for exports purposes.
It has offered a total quantity of 60,000 tons (30,000 tons as an optional lot) with Si % up to 1.24 to international buyers today, through an export tender.
Last date for Submission of Bids: June 4 at 1230 Hrs IST
Opening of Technical Bids: June 4 at 1500 Hrs IST
Opening of Price Bids: June 5 at 1500 Hrs IST
Delivery of the material is to take place during first half of July for 1st lot and during 2nd half of July for the second one.
Delivery basis: FoB Paradeep Port
According to sources, “NINL is consistently producing N1 grade Pig iron, is holding about 50,000 tons of Steel (N1 and N2) grade material presently and would be able to meet with export orders, if finalized.”
NINL has floated the tender in a very short span of time as only on May 22, it received bids for the last Pig iron export tender and has not given any confirmation yet about finalizing the deal.
(NINL decides not to award the tender, for which it received bids on May 22.)
As per market anticipations, Pig iron prices in Korea have come down by another $5 to $405-410/MT CFR and the Importer would be at a loss, provided NINL takes the deal forward.
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