RINL received high bids for Pig iron exports tender

RINL offered 30,000 tons of Pig iron (steel) to overseas buyers through a global exports tender in the last week of January.

Two of the international trading companies named Prime Carbon GmbH (Switzerland) and STX Corporation (South Korea) bid high for the material, at $408/MT and $411/MT FOB Vizag Port (INR 22,000 and 22,100) respectively.

RINL is to take a final decision on the same, in a meeting on February 13.

The last Pig iron exports deal was concluded at $396/MT FOB Vizag Port in January.

In CIS countries, Pig iron is currently being traded in the range of $405-410/MT FOB Black Sea Port due to which response has been quite good.