MMTC invites Bids for 40,000 MT Pig Iron export

MMTC, India’s largest and state owned trading firm issues an export tender for 40,000 MT basic grade Pig iron on behalf of NINL; to be conducted in the month of May.

Upon successful completion of its last export deal, the company has issued another export tender for 40,000 MT basic grade Pig iron, to be conducted in the month of May’15. The last export deal was a relief for the company as it was sealed at USD 265/MT (USD 10/MT higher than original bids).

Synopsis of the Newly issued Tender
Material: Basic grade Pig iron
Origin: Indian
Quantity: Firm lot- 30,000 MT; Optional lot-10,000 MT
Loading port: Paradip Port
Shipment period: During 15-25 May’15
Delivery basis: FOBST Paradip Port
Destination: Any country other than banned countries

Specification
C: 3.6-4.3%
Mn: Less than 1%
Si: Upto 1.24%
S: 0.05% max
P: 0.15% max
Weight: 15-20 Kg

Last date for bid submission will be 11 May’15 at 14.30 hrs. Technical bids are scheduled on the same day at 14.45 hrs. Also, price bids shall open on the same day at 16.30 hrs.

Highlights of Last Export Tender conducted on 06 Apr’15

MMTC is currently in a well-to-do situation after receiving a pleasant response in its last Pig iron export tender conducted on 06 Apr’15. At first, the company received bids of around USD 250-255/MT, FoB India by MTPL & STX. However, upon revision, MTPL being the highest bidder raised its bids by USD 10/MT for 30,000 MT Pig iron to USD 265/MT FoB India and finalized the deal.

Upbeat bids at these levels were received after a long time owing to dull market sentiments, after the beginning of the year. Bids were at USD 310/MT in the month of January.

Remarks in the last Export Tender

Source: SteelMint Research