Rashtriya Ispat Nigam Limited (RINL), India’s one of the largest Pig iron exporter, had floated an export tender of 30,000 MT Steel grade Pig iron from Vizag port in July, 2014. For this tender, the company has received fairly high bids.
The company has finalized the export deal for August shipment at USD 390.20/MT FoB Vizag port with Hong Kong based trading company Fecat, the highest bidder.
Prime Carbon GmbH, which is a Switzerland based Pig iron trader and an active participant in Indian Pig iron export tenders, bid low.
Market participants mentioned that the tender received higher bids looking at global Pig iron prices and the political issues between Russia & Ukraine. CIS Pig iron prices are standing at USD 375/MT FoB Black Sea.
Fecat is a Hong Kong based privately owned company that deals in raw materials. It is the marketing services provider for Kumba Singapore, supporting its sales of Iron ore products into China.
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