MMTC on behalf of NINL had issued tender for 30,000 MT pig iron export which was due on 15 Jun’17. As per the reports of market participants, the tender received poor response and low bids in the range of USD 290-292/MT, FOBST basis. Sources say that company has cancelled the tender on expectation of higher bids. Company’s previous pig iron export tender which expired on 02 Jun’17 fetched higher bids at USD 307-308/MT, FOBST basis.
The company yesterday (19 Jun’17) issued a fresh export tender for same quantity of pig iron which is due on 14:30 hrs on 27 Jun’17. The shipment is scheduled between 10 Jul-20 Jul’17.
Global Pig Iron Market Overview – Pig iron trade activities in global market remains quiet. Although buyers are exploring Indian market. Presently Indian pig iron export offers are assessed at USD 305-310/MT FoB India which is equivalent to USD 320-325/MT CFR South East Asian nations.
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