Company fails to receive response in Pig iron export tender on 16 July’15.
On behalf of NINL, MMTC has invited a global tender for exporting 40,000 MT basic grade Pig iron (30,000 MT of firm lot and 10,000 MT of optional lot) for interested overseas buyers.
The last date for bid submission is 11 Aug’15.
Company’s previous export auction held on 16 July’15 failed to any response owing to ongoing bearish sentiments across the globe. A recent fall in scrap offers along with cheaper Chinese billets trade, have corrected the Pig iron market by USD 20/MT in a week’s time.
Market participants are all prepared for the further fall in prices of another USD 10-20/MT, though there is some hope of demand from Turkey after the Ramadan.
Indian Pig Iron Export
India had exported total around 371,500 MT of Pig iron in the H1, 2015. Of the total Pig iron exports this year, MMTC has solely exported around 210,500 MT registering itself to be the highest Pig iron exporter in India, followed by Sesa Sterlite, Goa and RINL, Vizag.
Indian Pig iron Exports
| Berthing Date | Supplier | Indian Port | Vessel Name | Quantity in MT | Destination |
| 24-Jan-15 | MMTC | Paradip | Coreocean Ol | 27,000 | Thailand |
| 31-Jan-15 | MMTC | Paradip | HTC Delta | 39,000 | South Korea |
| 19-Feb-15 | MMTC | Paradip | Matumba | 30,000 | South Korea |
| 12-Mar-15 | SESA | Mormugao | Latika Naree | 27,500 | Malaysia |
| 22-Mar-15 | SESA | Mormugao | Ken Cape | 30,000 | Saudi Arabia |
| 25-Apr-15 | MMTC | Paradip | Maritime Champion | 28,500 | Thailand |
| 21-May-15 | RINL | Vizag | C. Friend | 43,000 | Thailand |
| 20-May-15 | SESA | Mormugao | Mandarin Phoenix | 25,500 | Egypt |
| 07-Jun-15 | MMTC | Paradip | Baltic Jaguar | 44,000 | Thailand |
| 26-Jun-15 | SESA | Mormugao | ISS Cantata | 30,000 | Thailand |
| 29-Jun-15 | SESA | Mormugao | Eastern Star | 5,000 | – |
| 15-Jul-15 | MMTC | Paradip | Loreto | 42,000 | Thailand |
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