Rashtriya Ispat Nigam Limited (RINL), which had floated an export tender of 30,000 MT Steel grade Pig iron in the month of August, had settled the export deal.
RINL had finalized the deal with Prime Carbon GmbH, a Switzerland based Pig iron trader, at USD 395.33/MT FoB Vizag port, which is around USD 1.63/MT higher than the recent export deal settled by MMTC with MTPL at USD 393.70/ MT FoB East Coast of India.
The tender was floated on 08 Aug, 2014 – scheduling technical and price bid on 28 & 29 Aug, 2014 respectively. Its last export tender was settled with Fecat, a Hong Kong based trading company, at USD 390.20/MT FoB Vizag port. The company has received fairly higher bid for this tender.
Geo-political crisis in CIS nation is resulting to better realization on export market for India. Currently, Pig iron offer of CIS nations are at around USD 395/MT FoB Black sea. Similarly, Brazil is also maintaining higher offers at USD 397/MT FoB Ponta da Madeira.
Rashtriya Ispat Nigam Limited (RINL) is India’s one of the largest Pig iron exporter.
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