MMTC has re-issued an export tender for 30,000 MT non-alloy Pig iron of Indian origin which is scheduled to close on 12 May’17. The material is produced by Neelachal Ispat Nigam Limited (NINL), Duburi, Odisha, India.
Synopsis of the tender
Quantity: 30,000 MT
Loading port: Paradip Port, India
Shipment period: During 23 May’17 – 2 Jun’17
Delivery basis: FOBST Paradip Port
Destination: Any country other than banned countries
Last tender of MMTC for export of 30,000 MT pig iron closed on 13 Apr’17 has been canceled due anticipation of higher bids. Company had received bids from two participants at a price level of USD 295-300/MT FOB India east cost.
Company’s monthly price circular for domestic market expired on 20th Apr’17 and revised prices may issue soon.
Weak Demand in Global Market
Pig iron demand remains weak in global market owing to falling steel prices in China and volatility in scrap prices. Buyers are cautious and unwilling to take positions. Market participants report that availability from CIS region is expected to be better in coming weeks.
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