MMTC, India’s largest international trading company on behalf of NINL, had finalized the Pig iron export deal of 30,000 MT for August Shipment with Prime Carbon GmbH, a Switzerland based trading company.
The deal was settled with the highest bidder at USD 398.02/MT FoB East Coast India, which was USD 6.25/MT higher from its competing participant MTPL (which bid at USD 391.77/MT).
Neelachal Ispat’s previous export tender which floated on 15 May, 2014 was awarded to MTPL at USD 395.21/MT FoB Paradip port, whereas another renowned exporter, RINL recently closed its export deal for August shipment at USD 390.20/MT FoB Vizag port.
MMTC has offered 60,000 MT (optional 30,000 MT) Pig iron for exports of which 30,000 MT is being exported currently. Company has scheduled the shipment dates in the last week of August.
Company official says, “We appreciate the responses that we received from participants and we would encourage if the rest quantities that are optional is being sold.”
Shortage of Pig iron owing to crisis in the global market has led to good realization in Indian Pig iron export market. Currently, offers from CIS have also risen by USD 2/MT after witnessing geopolitical tension between Ukraine & Russia and is at USD 377/MT FoB Black sea.
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