NINL and RINL finalized exports deal of 60,000 tons of Pig iron (steel) individually, i.e. 30,000 tons each with Stemcor (London) and LG International (South Korea) at $403/MT FOB (Paradeep/Vizag Port).
The state owned Pig iron makers are not offering steel grade material to domestic buyers at the moment and are anticipated to start with the same, April onwards.
Shipment of the same is to take place in the month of April.
Visa Steel (Odisha) is likely to resume its Pig iron operations in the month of May, on expectations of better availability of iron ore, said a company official.
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