India’s largest trading house, MMTC has recently closed an export tender for 30,000 MT Pig iron on 10 Mar’17. The company has concluded the tender at higher price bid at USD 3/MT as compared to previous one; according to sources.
MMTC floated this tender on 04 Mar’17 with scheduled delivery of the shipment between 27th Mar’17- 7th April’17 for 10,000 MT shipments and 10th Apr-20th Apr’17 for 30,000 MT shipments.
According to sources, the tender attracted 3 participants and the highest bid received was around USD 316/MT followed by second highest (H2) around USD 315/MT and third highest at USD 310/MT. However, the company has concluded the tender at H1 prices.
The last export tender for 30,000 MT Pig iron which concluded on 02 Mar’17 got concluded at USD 313/MT, FoB East Coast.
Rising scrap prices as well as absence of material in Russian and Ukranian market have given room to Indian pig iron exporters to raise their exports
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