MMTC, India’s largest and state owned trading house, has floated export tender of 30,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids is 14:30 hrs on 28 Aug’18. The material offered has specification – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max. The shipment is scheduled between 20 Sept’18-30 Sept’18 from Paradip port.
Snapshot of recently floated Indian pig iron export tenders –
The company had floated export tender of 30,000 MT non-alloy Pig Iron on which was due on 10 Aug’18. According to market sources report to SteelMint, the tender received participation from around 3-4 companies with highest bid around USD 370-375/MT, FoB India. Amid high expectations, the company cancelled the tender.
A private pig iron manufacturer had floated tender for 20,000 MT export. The tender was withdrawn owing to high realization in domestic market.
Prior to this, MMTC concluded tender for around 15,000 MT pig iron export in beginning of August at around USD 380/MT, FoB India.
Indian domestic pig iron prices inched up – Neelachal Ispat Nigam Limited (NINL) in its price circular dated 10 Aug’18 raised prices by INR 200/MT. The latest offers for Steel (N1) grade material are assessed at INR 28,100/MT (USD 400), ex-Cuttack, Odisha. While bulk purchase discount remain unchanged at INR 100-400/MT.
Domestic pig iron prices in other major markets were assessed at INR 29,000-29,400/MT (USD 413-418) in Durgapur and INR 29,300-29,500/MT (USD 417-421) in Raipur. All prices mentioned are basic & GST @ 18% extra.
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