NINL's (India) Pig iron export tender received high bids

NINL offered 60,000 tons of steel grade Pig iron to overseas buyers through an exports tender on March 21, price bids of which opened today.

The tender has received highest bid at $413/MT (INR 22,455/MT) from Stemcor (UK).

Prime Carbon GmbH (Switzerland) was the second highest bidder at $407.18/MT (INR 22,138/MT).

A third party named Liberty (UK) also participated but was disqualified in the technical bid.

Importers of Indian Pig iron bid high as prices of Pig iron in the international market are anticipated to strengthen further.

NINL is yet to take a decision by March 4.