Rashtriya Ispat Nigam Limited (RINL), India's second largest exporter of Basic grade Pig iron (Si 1.0%) has decided to award the 30,000 tonnes export tender, which was floated on July 20.
On a mutual understanding between both the parties, price bids of the tender were opened on August 20, which was to happen on the 22nd.
The tender has been awarded to Prime Carbon GmbH (Switzerland), the only participant which bid for 30,000 tonnes at US$370.70/MT Vizag Port.
Shipment of the material will take place on September 30.
Regarding buying interest for another 30,000 tonnes, RINL is yet to receive a confirmation from the Switzerland based importer.
RINL extends Pig Iron Open Tender Date for the 3rd Time
The state owned Pig iron producer has extended the Pig iron open date for the third time.
Last date and time for bids submission: 02:30 p.m. on August 27
Opening of Technical bids: 03:00 p.m. on August 27
Opening of Price bids: 03:30 p.m. on August 27
The total quantity offered has been lowered by 50% i.e. from 30,000 tonnes to 15,000 tonnes only.
The interested party has to lift a minimum quantity of 13,500 tonnes of the material initially.
RINL has decided to offer a small quantity as traders are uninterested to procure 30,000 tonnes of the material at one go.
Trading volumes in Indian domestic market has come down sharply and manufacturers continue to lower prices due to poor off take.
RINL offers Pig Iron from its Pune Branch Office
A small quantity (leftover stock in 15 lots) of Pig iron has been offered from RINL's stockyard located at Theur Phata, Kunjirwadi, Pune.
Last date for bids submission: Up to 03:00 p.m. on August 27
Opening of Price bids: 03:30 p.m. on August 27
Validity of the tender: September 27
Loading charges to be borne by RINL.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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