RINL (Rashtriya Ispat Nigam Ltd), one of the largest exporter of Pig Iron based in India got weak response for its export tender of 30,000 tonnes steel grade Pig Iron at the end of the current month as International offers are not workable.
Countries such as Russia and Ukraine are quoting much cheaper price.
The company therefore postpones its date of exports tender to the 6th of August but market participants are not hopeful of better results.
Current offers for domestic steel plants are at Rs 24,300/t (Ex Works) for bulk bookings.
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