India’s largest trading house, MMTC has recently closed an export tender for 30,000 MT on 10 Mar’17.
The company has managed to attract 3 participants and bids received were higher than the previous one; according to sources.
MMTC floated this tender on 04 Mar’17 with scheduled delivery of the shipment between 27 Mar’17-07 April’17 for 10,000 MT shipments and 10 Apr-20 Apr’17 for 30,000 MT shipments.
The last export tender for 30,000 MT Pig iron which concluded on 02 Mar’17 got concluded at USD 313/MT, FoB East Coast. The company is optimistic that prices are likely to move up further in the global market and they will get more opportunities to export pig iron.
Indian Pig iron exports are on peak since few months. Another Pig iron export exporter, Vizag Steel has also concluded an export tender for 25,000 MT Pig iron on 28 Feb’17 at USD 312/MT, FOB Vizag Port.
Rising scrap prices as well as absence of material in Russian and Ukranian market have given room to Indian pig iron exporters to raise their exports.
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