Neelachal Ispat Nigam Limited (NINL), through an exports tender, offered 60,000 tons of Pig iron to overseas buyers on March 21.
On April 3, it received bids at $413/MT FOB from Stemcor (London) and at $407.18/MT FOB from Prime Carbon GmbH (Switzerland).
NINL has finalized the deal for 30,000 tons of Pig iron with Stemcor (London) at $413/MT, material is to be delivered by May 31.
Its current Pig iron production capacity is 855,000 tons per annum.
In future, only 152,000 tons (17%) of Pig iron would be offered in domestic market, the remaining quantity will to be consumed for its SMS.
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