Secondary Pig iron makers lowered offers up to Rs 600/MT (steel) and Rs 1,000/MT (foundry) in a week's time.
The 60,000 tons exports tender was floated by NINL for the second time on Jan 14 as Stemcor bid low ($388, according to sources).
It was heard that RINL finalized the 1 lac tons Pig iron exports deal with PEC Ltd (New Delhi) at Rs 21,400/MT (Ex Vizag).
(Company officials have not given any confirmation on the same).
Due to rise in overseas Pig iron prices and high bids expected for exports tender, NINL is likely to raise offers by Rs 500/MT on Jan 21.
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