MMTC, India’s largest and state owned trading house, issued an export tender of 40,000 MT non-alloy Pig iron of Indian origin. The material is produced by Neelachal Ispat Nigam Limited (NINL), Duburi, Odisha, India.
Synopsis of the tender
Quantity: Firm lot- 30,000 MT; Optional lot-10,000 MT
Loading port: Paradip Port, India
Shipment period: During 25 May – 5 Jun’16
Delivery basis: FOBST Paradip Port
Destination: Any country other than banned countries
The due date for bid submission is 17 May’16 at 14:30 hrs. Technical bid opening and price bid opening are scheduled on the same day at 14.45 hrs and 16.30 hrs IST respectively.
MMTC last export tender got canceled
Last export tender of 40,000 MT Pig iron was issued on 11 Feb’16 and scheduled technical bid to open on 3 Mar’16 but due to uptick in the market and positive responses from the recent domestic offers, the company had extended its date till 15 Mar’16 in hopes to get better realization for its export tender. But finally, it had been canceled from the department upon administrative reasons.
Global Pig iron market scenario
Pig iron prices in global market continue to rise in line with rising scrap prices. Offers for CIS region Pig iron are assessed at USD 275-280/MT FOB, where as Brazil Pig iron offers are assessed at around USD 260-265/MT FOB.
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