A private Indian pig iron manufacturer and exporter had floated a pig iron export tender for 25,000 MT Basic grade Pig iron. The tender due date was on 08th Feb’19 and shipment scheduled from 24th Feb-04th Mar’19. Offer validity was till 11 Feb’19.
According to market sources report to SteelMint, the tender has been concluded at around USD 355-360/MT, FoB India and the cargo is likely to be shipped to Bangladesh.
However confirmation from the company was not received till the time of publication of report.
SteelMint’s assessment for Indian pig iron export rise by USD 15/MT on fresh buying from Bangladesh based buyer.
Global Pig iron offers have improved amid hike in global scrap prices. Pig iron export offers from CIS nations has moved up to USD 330/MT, FoB Black Sea.
Bulk Pig iron exports from India fell 57% in CY18 – Indian bulk pig iron exports fell sharply by 57% Y-o-Y in CY18, as per vessel line up data maintained by SteelMint, and was recorded at 0.24 MnT in CY18 as against 0.58 MnT in 2017, down by 57% on yearly premises. MMTC which exports pig iron on behalf of NINL remained the largest exporter in CY18 at 0.12 MnT followed by Vedanta & RINL.
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