The Goa based Pig iron manufacturer, with 0.625 MnT pa installed capacity, has become the leading Indian Pig iron exporter in private sector. Since the beginning of FY14, the company has been consistently exporting its material in big quantities.
The exporter has today, finalized an export deal for 30,000 MT (+/-5%) of Steel grade Pig iron, at USD 400.50/MT FoB. Shipment of the material will take place in the month of December, from Goa Port.
A trading company headquartered in Singapore, is buyer of the material. This is the second deal concluded between both the parties.
Source: SteelMint
The Goa based Pig iron exporter has set a monthly export target of 30,000 MT and the rest 20,000 MT is offered to domestic buyers.
Traders have been actively participating and are keen to export Indian Pig iron. Exports has gone up drastically in FY 14, owing to rise in demand from Southeast Asian end users.
Today, Rupee touched 63 against USD in the morning trade and has been favorable for Indian Pig iron exporters. Realizations from export market has been higher as compared to domestic sales.
To domestic takers, the company is offering foundry grade Pig iron at INR 27,500/MT (ex works). Prices have been stable for the past one month, as demand has not been very encouraging. Domestic Pig iron market might not prove to be promising in the weak ahead.
Indian Pig iron offers remain unchanged this week. Coke prices are standing at USD 276/MT CFR India, a marginal increase of USD 4. NINL’s domestic Pig iron sales remain closed, since the beginning of this month. Whereas, RINL’s stock position for Steel grade Pig iron is low and is offering the material in small quantity to domestic buyers, as it is using Hot metal for Steel making.
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