RINL, had offered 30,000 MT (+/-10%) basic grade Pig iron with Si 1.0% to international buyers on 10 Feb, 2014. Today, tender’s bid price opened at 15:00 hrs IST.
A couple of traders had participated in this tender. Previously, the due date for bid submission was on 10 Feb, 2014 which extended to 17 Feb, 2014 before 15.00 hrs IST as demand in Southeast Asia was not so encouraging.
A new participant based in Hong Kong namely Burwill Holdings was unable to make through the technical round. Prime Carbon GmbH (Switzerland) was the highest bidder at USD 375.02/MT FoB and will be exporting the material to Southeast Asia.
RINL is yet to take a decision and might finalize the deal soon. Shipment of the material will take place by 31 Mar, 2014, from Vizag Port on FoB basis.
RINL is a state owned and one of India’s largest Pig iron exporters which is based in Vizag (Andhra Pradesh).
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