India’s largest trading house, MMTC has recently closed an export tender for 30,000 MT on 08 Sept’16. According to the sources, the company has managed to attract 2 participants .
MMTC floated this tender on 22 Aug’16, which got expired on 08 Sept’16 and the delivery of the shipment is scheduled between 01 Oct to 20 Oct’16.
According to the market participants, the bids received were tentatively around USD 242-245/MT, FoB India. However, it is yet to be confirmed.
Company’s last export tender for 15,000 MT Pig iron was concluded on 05 Jul’16 and was awarded to Shabro Metallic Pvt Ltd at USD 240/MT, FoB India East Coast. The cargo had been shipped to Bangladesh.
Another major Pig iron exporter named Vedanta Resources also concluded 21,000 MT Pig iron export deal at USD 241.5/MT FOB India West Coast recently. The consignment was shipped to Thailand.
Indian Pig iron exports are rising on improved global demand. Steel makers across the globe are encouraged to go for Pig iron, owing to rising seaborne scrap as well as Chinese billet prices. India has exported 109,450 MT Pig iron since Jan’16.
Indian Pig iron exports since Jan’16
| Month | Load Port | Vessel Name | Quantity (MT) | Price in USD/MT | Delivery Term | Unload Port | Shipper |
| Jan’16 | Paradip | Mardinik | 31,500 | 190 | FoB | Thailand | MMTC |
| May’16 | Paradip | Bbc Iceland | 3,200 | — | – | Bangladesh | MMTC |
| Jul’16 | Mormugao | Uni Challenge | 20,000 | 237-240 | FoB | Bangladesh | Vedanta |
| Aug’16 | Paradip | Uni Challenge | 15,750 | 240 | FoB | Bangladesh | MMTC |
| Aug’16 | Mormugao | Lord Nelson | 21,000 | 241 | FoB | Thailand | Vedanta |
| Aug’16 | Haldia | Asia Energy | 18,000 | 233 | FoB | Bangladesh | SAIL |
Source: SteelMint Stats, Customs
Provisional Data
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