On behalf of NINL, MMTC has kept Pig iron prices unchanged for both N1 & N2 grade till 12 June, which was previously to get close on 05 June. The material will be available on 100% advance payment.
Continuing the previous offers, the current offers for N1 grade (Si upto 1.24%) are at INR 17,500/MT ex-Cuttack with discount of upto INR 400/MT on bulk purchase of more than 10,500 MT. For N2 grade Pig iron (Si 1.25% to 1.74%), the current offers are at INR 17,700/MT with discounts upto INR 100/MT on bulk purchase.
Recently, the company had also floated an expression of interest (EoI) to enhance & focus Pig iron sales in domestic market. It is in-line to secure few of its domestic buyers through this EoI. Minimum quantity to be lifted will be 2,000 MT per month for a period of 8 months starting Jul’15-Mar’16.
Another export tender for 40,000 MT basic grade Pig iron by MMTC is in pipeline. The scheduled technical bids will open on 16 Jun’15.
Other primary player namely SAIL RSP is in-line to open its fresh offers in a week.
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