Vizag Steel 30,000 MT Pig Iron Export Tender 

Vizag Steel, a leading state owned Pig iron producer and exporter in the country, issued an export tender for 30,000 MT basic grade Pig iron.

The delivery of material will be till 28 Feb’16, FoB Vishakhapatnam Port or Gangavaram Port on direct export basis. Quotations for bids will be accepted till 28 Dec’15 at 15.00 hrs and technical bids will open on the same day at 15.30 hrs. The company will not accept bids for less than 30,000 MT as it is to export the whole quantity. Also, the quoted bids shall be in USD or INR.

Material Specification

C: 3.5-4.5%
Mn: 0.50% max
Si: 1.0% max
P: 0.12% max
S: 0.05% max

Another global tender of MMTC is on pipeline, and is about to expire on 16 Dec’15. The company in this tender has offered around 40,000 MT of basic grade Pig iron.

Last Export Tender Scenario

Last export tender held on 27 Oct’15 for 30,000 MT basic grade Pig iron went unnoticed. The company then extended the Pig iron export tender till 13 Nov’15 on the backdrop of poor response received on 27 Oct’15. Another major Pig iron tender by MMTC conducted on 26 Oct’15 also went unnoticed due to poor participation

Competitive offers of Billet, Scrap and Pig iron in global market is giving tough competition to Indian export market. Hence, the Pig iron offered by Indian manufacturers in tenders are going unnoticed from a while (3-4 months).

Global Pig iron Market

Currently, Pig iron prices at global market has found stability. Strong demand for scrap in market has provided greater support to Pig iron prices. The current offers for Pig iron remain at USD 170-175/MT FoB Black sea.

Global and Domestic Offers as on 09 Dec’15

Source: SteelMint Research