Metal Mineral & Trading Corporation (MMTC), has recently extended its Pig iron ore export tender till 15 Mar’16 on back of improved demand in domestic market.
The company,on 11 Feb’16 issued an export tender for 40,000 MT basic grade Pig iron with scheduled technical bids to open on 03 Mar’16 and now extended it till 15 Mar’16.
Upon imposition of MIP, domestic steel industry have become very active. Domestic steel as raw material prices were up as people were actively stocking the material.
In addition, on 02 Mar’16, NINL issued its domestic prices (for around 25,000 MT) with an increment of INR 300/MT to a level of INR 17,300/MT. According to sources, majority of the material has been sold to Rourkela, Raigarh and Bhilai based units.
According to market sources, currently, the company is at wait-and-watch situation to see how market goes further. Alongside, due to uptick in the market and positive response in the recent domestic offers, the company extended its export tender till 15 Mar’16 in hopes to get better realization for its export tender.
Synopsis of the tender
Material: Non-alloy Pig iron
Origin: Indian
Quantity: Firm lot- 30,000 MT; Optional lot-10,000 MT
Loading port: Paradip Port, India
Shipment period: During 14 Mar-24 Mar’16
Delivery basis: FOBST Paradip Port
Destination: Any country other than banned countries
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