MMTC- India’s largest and state owned trading house, had floated export tender of 15,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids was on 27 Jul’18.
The material offered has specification – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max. The shipment is scheduled between 21 Aug-31 Aug’18 from Paradip port.
According to market sources report to SteelMint, the tender fetched decent response and participation from about four companies. The tender was heard to have concluded at around USD 380/MT, FoB India. As per sources report the tender has been concluded with a Hong Kong based trading company.
Prior to this, the company concluded a tender for 30,000 MT pig iron which got expired on 11 Jul’18 in the price range of USD 382-383/MT, FoB.
Decent Bookings Fetched in Recent Allocation by Neelachal Ispat- As per sources the company has received good response in recent domestic pig iron price circular, in which the company has rolled over prices for both Steel & Foundry grade materials.
On 24 Jul’18, NINL had floated fresh domestic prices for Steel (N1) grade at INR 27,500-27,900/MT (USD 402-408) & Foundry (N2) grade at INR 28,500/MT (USD 417); prices are excluding GST, ex-Cuttack, East India. The price validity was till 31st Jul’18.
As per sources, out of total bookings in current price circular, near about 70% quantity has been booked for Central region.
NINL logged best ever Pig Iron despatch in July – As per reports, NINL has achieved its best ever saleable pig iron dispatch, about 4,190 MT on 24th Jul’18 from its Kalinganagar, Odisha plant. Prior to this, healthy volume of dispatch was recorded at 3,718 MT on 26th Nov’15.
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