An Indian Pig iron manufacturer has finalized pig iron export deal through open tender after a waiting period of 4-5 months. Poor global sentiments kept Indian exporters away from global buyers.
MMTC, state owned and one of largest Indian Pig iron exporter, on behalf of NINL (Neelachal Ispat Nigam Ltd) has recently closed an export deal of 31,500 MT basic grade Pig iron at USD 190/MT, FoB Paradip Port with a Switzerland based trading company, Prime Carbon GmbH.
MMTC had offered 30,000 MT lot (and 10,000 MT optional) of basic grade pig iron through a tender which closed on 16 Dec’15.
“The company has received fair bid. Looking at the global levels of USD 175/MT, FoB Black Sea and USD 185/MT, FoB Brazil, the bid received at USD 190/MT FoB India is a good number for an Indian exporter”, said a global participant.
Vizag Steel’s export tender
Vizag Steel, which had issued export tender for 30,000 MT basic grade Pig iron till 28 Dec’15, has failed to receive response from global participants.
The company official mentioned, “We haven’t received any bids. So, we are planning to extend bid submission date.”
The date could not be confirmed.
Prices as on 29 Dec’15
| Particular/Delivery | Prices | Change |
| FoB Brazil | USD 185/MT | + 5 |
| FoB India | USD 190/MT | – |
| FoB Russia | USD 175/MT | + 3 |
| Ex-Cuttack | INR 14,800-15,200/MT | 0 |
| Ex-Durgapur | INR 15,800/MT | + 800 |
| Ex-Raigarh | INR 16,000/MT | 0 |
| Ex-Raipur | INR 16,400/MT | 0 |
Source: SteelMint Research
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