Rashtriya Ispat Nigam Limited (RINL), had floated export tender of 25,000 MT basic grade steel making Pig Iron for delivery by end Dec’17. Material offered has specifications: C: 3.5-4.5%, Mn: 0.5%(max), Si: 1%(max), P: 0.12% max, S: 0.05% max. The due date for submission of bids was earlier fixed at 11:00 AM on 15 Nov’17.
Owing to dull response, the company extended the due date due date till 11:00 AM on 21 Nov’17.
As per market sources report to SteelMint, the steel maker has concluded the pig iron export tender at around USD 335-340/MT, FoB India.
Indian pig iron exports stood at 0.5 MnT during Jan-Oct’17. MMTC which exports on behalf of NINL remained the largest exporter at 0.22 MnT followed by Vedanta at 0.15 MnT and RINL at 0.07 MnT.
MMTC floats 5,000 MT pig iron export tender
MMTC, India’s largest and state owned trading house, has floated export tender of 5,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL) for shipment period scheduled between 14-24 Dec’17. The due date for submission of bids was on 05 Dec’17.
The material offered had specifications – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max.
Global pig iron market overview
Brazil pig iron export offers are heard around USD 340/MT, FoB. Few trade activities were reported, however export prices continue to remain stable.
CIS nations pig iron export offers are heard around USD 335-340/MT, FoB Black Sea.
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