India’s largest trading house, MMTC has recently closed an export tender for 30,000 MT Pig iron on 15 Dec’16. The company has concluded the tender at USD 11/MT higher by previous one according to sources.
The company has managed to attract 2 participants and bids received were tentatively around USD 291.5/MT, FoB East Coast and the cargo is expected to be shipped to Thailand according to market sources.
MMTC floated this tender on 06 Dec’16 with shipment delivery scheduled between 26th Dec-05 Jan’17.
India’s another leading producer and exporter of Pig iron, Vizag Steel, also closed an export tender for 20,000 MT steel grade Pig iron on 14 Dec’16. However, they have cancelled the tender on higher bid expectations.
The company received 3 bids and the H1 bid received was at USD 281.5/MT, followed by second and third highest at around USD 274, 273/MT, FoB East Coast respectively. But, the company’s expectation was around USD 300/MT, FoB due to higher cost of production.
Notably, MMTC’s last 30,000 MT Pig iron export tender which closed on 02 Dec’16 was concluded at USD 280/MT, FoB East Coast.
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