Indian Pig iron export tender by MMTC for export of 15,000 MT Pig iron, on behalf of Neelachal Ispat received bids below USD 240/MT, FOB India East Coast according to sources.
MMTC has floated this tender on 20 June’16 , which got expired on 28 June’16 and the delivery of the shipment is scheduled between 05 Jul’16 to 15 Jul’16.
According to sources , three companies participated in the tender and bids were made below USD 240/MT FoB India East Coast.
Market participants expect this cargo to be shipped to Bangladesh if concluded.
It may be noted that steel making capacity has increased in Bangladesh .Pig iron and scrap are in high demand especially after the government has raised import duty on billets.
Pig iron offers in CIS market also remain the range of USD 235-240/MT FOB Black Sea. In addition, current offers for HBI are at USD 200-210/MT CFR Bangladesh from Russia.
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