RINL floated 30,000 tons Pig iron export tender on Apr 8 and technical bids is to open on the 22nd.
Last tender (NINL) was closed at $413/MT FOB on Apr 9 and RINL's tender fetched bid at $403.02/MT on Mar 8.
Pig iron importers might bid between $407-411/MT FOB as in the international market – scrap prices have not moved up, upswing in demand and upside in prices of Pig iron is not foreseen and demand from steelmakers in Korea is decent.
An importer of RINL's Pig iron said that it is holding an MoU with RINL for purchases of 200,000 tons of the material annually, depending upon market conditions and prices.
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