Indian Pig iron export tender for 15,000 MT has fetched bid USD 5/MT, FoB higher as compared to last tender.
India’s largest trading house, MMTC has recently held an export tender for minimum 15,000 MT and maximum 30,000 MT Pig iron on 02 Dec’16. The company has managed to attract 2 participants and bids received were tentatively around USD 280/MT, FoB East Coast according to market sources.
MMTC floated this tender on 25th Nov’16 with scheduled delivery of the shipment between 20-30 Dec’16.
Notably, the company’s last export tender for 15,000 MT Pig iron which closed on 23 Nov’16 concluded at around USD 275-276/MT, FoB East Coast. The tender attracted 3 participants and the shipment is likely to be shipped to Bangladesh.
In addition, Indian pig iron manufacturers also started exploring export potential after MMTC concluded the export tender which closed on 23 Nov’16 due to higher global iron ore prices, rupee depreciation and falling domestic demand amid demonetization.
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