The first half of FY 14 has been quite favorable for Indian Pig iron producers in terms of export market, coupled with sliding Rupee against US Dollar and better demand from International Pig iron buyers.
Apart from the largest state controlled Pig iron producers namely NINL (Cuttack) and RINL (Vizag), one of the Goa based Pig iron manufacturer has also won export deals in big quantities.
From April-August 2013, NINL has shipped 157,500 tonnes, RINL has exported 90,000 tonnes and the Goan low phosphorus Pig iron producer has completed 83,863 tonnes of overseas Pig iron shipment.
Goa based Pig Iron Maker ready for its 4th Shipment in FY 14
With reference to an article posted on September 12, 2013, SteelMint mentioned that Daewoo International Corporation, Korea's largest trading company and a subsidiary of POSCO, had approached a Goa based Pig iron producer for Pig iron cargo.
A Pig iron export deal has been closed between the Goa based Pig iron producer and Daewoo International.
The total quantity is 30,000 tonnes of Basic grade Pig iron at a price of USD 378-380/MT FoB Goa Port and freight charges stand in the range of USD 16-18.
Shipment of the material will take place in the second half of September'13 i.e. between 17-22 from Goa Port, which is to reach Korean Port.
Another Korean Trader looks for Indian Pig Iron Cargo
A trader named G. S. Global Corporation with a global presence and headquarters in Korea, is engaged in trading of steel products.
It has been heard that the new trader has also approached the Goa based Pig iron maker for a cargo, as the former is trying to start Pig iron trading business.
But due to anticipation of a lower price in comparison to what the Pig iron exporter had offered its material, a deal could not be closed in the present day.
Leave a Reply