MMTC on behalf of NINL has finalized the export deal of 30,000 MT Pig iron with MTPL, a Singapore based company & wholly owned subsidiary of MMTC.
The company has settled the deal at around USD 310/MT, which is USD 10/MT lower to its previous deal concluded in the same month at USD 320/MT, FoB Paradip.
Bid received by MMTC is fairer if compared with recent export tender held by another large merchant manufacturer, RINL. However, the company (RINL) denied to settle the deal at USD 306/MT, FoB Vizag, finding it not workable.
According to sources, shipment of MMTC is expected to take place in the first week of Feb’15, for which the company is heard to be loading about 35,000-40,000 MT as it has got tolerance level of +/- 5,000 MT Pig iron.
MMTC’s Domestic Affairs
MMTC recently invited tender for sale of about 55,000 MT (9 lots) Pig iron in the domestic market. In the event, company received good response(bids) in the range of INR 17,550-20,200/MT (ex-plant, Odisha), which it sold in the range of INR 18,700-20,200/MT. The company has now came up with a fresh price-circular of INR 19,400/MT for unsold Pig iron.
Correction in the Previous News
Bids received at USD 310/MT instead of USD 301/MT, FoB ECI
http://www.steelmint.com/news/indian-pig-iron-export-prices-usd-20mt-37174
MMTC’s Export Deal in last 6-month
| Month | Export Prices in USD/MT FoB ECI | Remarks |
| Aug’14 | 393 | MMTC finalized the deal with MTPL |
| Sep’14 | – | MMTC’s export tender failed to get response |
| Oct’14 | – | MMTC issued the tender in October; re-scheduled two times and extended till 12 Nov’14 |
| Nov’14 | 330 | MMTC finalized the deal with Prime Carbon |
| Dec’14 | – | MMTC’s export tender failed to get response due to winter vacation; re-issued till 6 Jan’15 |
| Jan’15 | 320 | MMTC finalized the deal with STX |
| Jan’15 | 310 | MMTC finalized the deal with MTPL |
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