Vizag Steel- a leading state-owned Pig iron producer, and exporter, had issued an export tender of 25,000 MT basic grade steel making Pig iron for any country other than Nepal.
The tender was due on 13 Feb’19 with offer validity till 20 Feb’19. As per the delivery schedule, the last date of delivery period shall be 31 Mar’19.
The material offered had specifications:
Carbon: 3.5-4.8 %, Manganese: 0.50% max, Silicon: 1.5% max, Phosphorus: 0.12% max, Sulphur: 0.050% max.
As per market sources report to SteelMint, the company might cancel the tender amid lower bids received than company’s expectations. As per sources, the company received bids received around USD 340/MT, FOB India.
As per sources report, the cargo could have fetched dull response as Bangladesh mills might not have actively participated and buyers for other origins might not bid at comparatively high value.
As per sources, the Bangladesh based buyers get duty exemption on booking pig iron from Indian manufacturers who provide necessary certificates, which could be one of the reason behind tender not receiving good response.
Leave a Reply