MMTC- India’s largest and state owned trading house, had 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 was 14:30 hrs on 17 Dec’18. The material offered had specification – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.15% Max. The shipment is scheduled between 11 Jan-21 Jan’19 from Paradip port.
Prior to this, the company had floated export tender for 30,000 MT Pig iron towards end of Sept’18. According to market sources report to SteelMint, the tender received participation from around 2-3 companies and has been concluded at the levels of around USD 388-390/MT, FoB India.
Global Pig iron market prices flat, participants expect correction on falling scrap prices: Trade participants expect global pig iron export offers to remain under pressure in coming days amid falling global scrap prices. CIS pig iron export offers are heard stable at USD 355-360/MT, FoB Black Sea, although trades remained less as few bulk deals were observed in last few weeks. Pig iron export offers from Brazil were also heard stable at USD 350/MT, FoB Brazil.
Imported scrap prices in Turkey have come down by USD 30-35/MT against last month.
NINL’s domestic pig iron price circular expiring tomorrow : NINL reduced its pig iron prices for steel & foundry (high silicon) grade by INR 400/MT w.e.f. 28th Nov’18. The latest offers by the company floated for Steel grade at INR 28,500/MT (USD 402), N2 grade at INR 29,000/MT (USD 409) & Foundry (High silicon) grade at INR 29,500/MT (USD 416); prices are basic, ex-Cuttack, East India.
The company is being offering bulk purchase discount on steel grade pig iron by INR 100-400/MT. The price circular is valid till tomorrow.
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