Two companies participated in the export tender held on 11 May’15. Bidding below USD 255/MT.
MMTC on behalf of NINL, had held export tender for 40,000 MT Pig iron on 11 May’15, has re-issued the tender to 20 May’15. This time it has increased the offered quantity to 80,000 MT.
Tender Description
| Lot No. | Lot Type | Quantity | Shipment |
| Lot No. 1 | Firm | 30,000 MT (+upto 5% at sellers option) | Immediate shipment (25 May’15 to 31 May’15) |
| Optional | 10,000 MT (+upto 5% at sellers option) | ||
| Lot No. 2 | Firm | 30,000 MT (+upto 5% at sellers option) | 2nd half of Jun’15 |
| Optional | 10,000 MT (+upto 5% at sellers option) |
Sourced
The company, in its recent export tender held on 11 May’15, received bids of around USD 250-255/MT, FoB Paradip port. The company did not award the tender to any of the parties and called for re-issuing of the tender. Sources confirmed, two trading companies, Prime Carbon GmbH & MTPL participated in the tender.
On the other hand, RINL’s vessel for export shipment of 43,000 MT Pig iron is about to berth on 18 May’15, which it had settled at around USD 260/MT FoB Vizag.
As an outlook, offers for Scrap and Pig iron at Black sea are turning bullish, which may provide further support to global steel prices. But as of now, market participants are hesitant on the bidding desk. Hence, bids on 20 May’15 may also fall at same levels.
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