MMTC, India’s largest and state owned trading house, has further extended the due date for its 30,000 MT non-alloy Pig Iron export tender which it had floated on behalf of Neelachal Ispat Nigam Limited (NINL).
In the corrigendum issued, the due date for submission of bids has been extended to 14:30 hrs on 13 Sept’17 which was 08 Sept’17 earlier.
Also the shipment period has been changed to 06-16 Oct’17 which was 25 Sept-5 Oct’17.
This is the 2nd time that the company has extended due date for this tender.
According to market sources report to SteelMint, the company is expecting bids in the range of USD 380/MT, FoB India. Price assessment for CIS origin pig iron is USD 370/MT, FoB Black Sea and that from Brazil is USD 370/MT, FoB.
NINL has raised its prices for domestic market by around INR 1,000/MT on 07 Sept’17. The latest offers are reported for Steel (N1) grade at INR 25,000-25,250/MT ex-Cuttack, East India. Following this private pig iron manufacturers in central & eastern India have increased offers by around INR 500/MT.
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