Rashtriya Ispat Nigam Limited (RINL), Nation's second largest and state owned Pig iron exporter has for the second time, extended the 30,000 tonnes Pig iron export tender date this morning.
SteelMint mentioned in its latest article on RINL, that it was anticipating the same as the Vizag (Andhra Pradesh) based Pig iron maker had this only option left.
Specification of the material: Basic grade and Si% 1.0
- Last date and time for submission of bids: 1500 hrs IST on August 20
- Opening of technical bids: 1530 hrs IST on August 20
- Opening of price bids: 1530 hrs on August 22
- Delivery schedule: September 30
- Validity of offers: August 27
- Validity of BG: February 19, 2014
The export tender was initially floated on July 20 and the tender date was extended for the first time on August 07.
RINL had received no response from international buyers twice, due to stock with importers and stability in overseas Pig iron prices as well as demand.
Sliding Indian Rupee at 61 levels against US dollar and is quite favorable to win an export deal and liquidate the stock, off take of which is quite poor in domestic market.
SteelMint thinks Neelachal Ispat Nigam Limited (NINL), Nation's largest exporter of Pig iron based in Cuttack (Odisha), might also come out with a Pig iron export tender in the current month itself.
The state controlled company is already holding the 30,000 tonnes optional lot of its last export tender, which was offered in the last week of July.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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