MMTC, India’s largest international trading company, which had floated tender for sale of 40,000 MT (10,000 MT optional) Pig iron in mid-August, received bids from two participants namely Prime Carbon GmbH and MTPL.
Sources mentioned that MTPL bid at USD 393.70/MT and Prime Carbon at USD 392.18/MT. MMTC has awarded 30,000 MT Pig iron (Si upto 1.24%) to MTPL for Sep’14 shipment on FoB Paradip port basis. Sale for the remaining 10,000 MT is under discussion.
- Odisha
Market participants mentioned that bids are in line with global prices, which are trading high owing to Ukraine crisis.
Last export tender of MMTC floated in Jul’14 was settled with Prime Carbon at USD 398.02/MT FoB East Coast India, which was USD 6.25/MT higher from its competing participant, MTPL (which bid at USD 391.77/MT).
Indian Pig iron prices have touched 1-year low level owing to sluggish demand. Manufacturers recently have reduced their offers by upto INR 500/MT.
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