Vizag Steel 30,000 MT Pig Iron Export Tender 

Last export tender in the month of May received a single bid; company is expecting positive response in this tender on account of improving global Pig iron market.

Vizag Steel, a leading state owned Pig iron producer and exporter in the country, issued an export tender for 30,000 MT basic grade Pig iron.

The delivery of material will be till 31 Aug’15, FoB Vishakhapatnam Port or Gangavaram Port on direct export basis. Quotations for bids will be accepted till 25 June’15 at 15.00 hrs and technical bids will open on the same day at 15.30 hrs. The company will not accept bid for less than 30,000 MT as it is to export the whole quantity. Also, the quoted bids shall be in USD or INR.

Material Specification

• C: 3.5-4.5%
• Mn: 0.50% max
• Si: 1.0% max
• P: 0.12% max
• S: 0.05% max

Last Export Tender Scenario

Last export tender held on 25 May’15 for 30,000 MT basic grade Pig iron received only a single bid. According to sources, Prime Carbon GmbH was the only trading company which participated in the event. The bids received in the tender were around USD 255-260/MT, FoB Vizag Port which was denied to award by the company.

Alike another major Indian exporter MMTC, which closed its last deal at around USD 262/MT is being treated as benchmark for other Indian exporters. This benchmarking has created room for further negotiations for Indian exporters in closure of deal.

Global Pig Iron Market

Global Pig iron market is somewhat improving since second half of May’15 on account of strong scrap and iron ore prices. This has made Pig iron manufacturers across the world raise their offers.

Prices as on 05 June’15

Source: SteelMint Research