Global pig iron market has remained quiet this week and witnessed limited trades. Owing to ongoing holidays in northern Europe, buying activities remained dull.
Pig iron export offers from CIS nations is heard to be around USD 335-340/MT, FoB Black Sea.
Pig iron import prices to Italy were assessed to be around USD 360/MT, CFR basis.
According to SteelMint’s assessment Indian steel grade pig iron reference price is around USD 335/MT, FoB east coast of India. The price has observed increase of USD 5/MT W-o-W. However market participants highlighted that no export deals frpm India are heard to have been concluded recently.
Indian participants eye for MMTC’s pig iron export tender – MMTC on behalf of NINL has recently floated 30,000 MT pig iron export tender. Bid submission due date is 16 Aug’17 and the shipment delivery is scheduled during 25 Aug-5 Sept’17.
Trade sources are anticipating the tender to fetch high prices amid constant hike in global prices. MMTC’s last pig iron export tender in Jul’17 was concluded at around USD 312-313/MT FoB India.
NINL raise domestic pig iron offers for Aug’17 – Amid increased realisation in exports and hike in prices by other pig iron manufacturers, NINL has increased domestic offers by INR 3000/MT.The latest offers are reported for Steel (N1) grade at INR 23,000/MT & Foundry (N2) grade at INR 23,500/MT; prices are basic, ex-Cuttack, East India.
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