MMTC’s last export deal closed at USD 2/MT higher, it is looking for yet another Pig iron export deal in the month of July.
On behalf of NINL, MMTC, India’s largest and state owned trading house, issued an export tender of 40,000 MT basic grade Pig iron and its tender is scheduled on 16 Jun’15. Last export tender received bids which were about USD 2/MT higher.
Synopsis of the New Export Tender
Material: Basic grade Pig iron
Origin: Indian
Quantity: Firm lot- 30,000 MT; Optional lot-10,000 MT
Loading port: Paradip Port
Shipment period: During 26 Jun-5 Jul’15
Delivery basis: FOBST Paradip Port
Destination: Any country other than banned countries
Last date for bid submission is 16 July’15 at 14.30 hrs. Technical bids are scheduled on the same day at 14.45 hrs. Also, price bids will open on the same day at 16.30 hrs.
Highlights of Last Export Tender
The company released an export tender on 02 June’15 with scheduled technical bids to opened on 16 June’15 for 40,000 MT basic grade Pig iron. The company had concluded the deal for 30,000 MT Pig iron with Prime Carbon (H1) at USD 264/MT FoB Paradip Port. The shipment is expected to take place during first week of July’15.
Global Market Scenario
Global Pig iron prices are declining continuously. FoB Black sea prices which contributes major role in determining global market scenario, are hovering at USD 260-262/MT levels.
Scrap prices is expected to fall in global market owing to low priced Chinese billets. Market speculates weak response for this Pig iron export tender.
Leave a Reply