Vizag Steel, one of the largest steelmakers, has recently extended its 30,000 MT Pig iron export tender till 27 Oct’15 on the backdrop of poor response received in its recent tender.
On 21 Sept’15, the company had issued export tender for 30,000 MT basic grade Pig iron with deadline on 12 Oct’15. Now, it has extended to 27 Oct’15 in hopes to get better response than the previous one.
According to sources, the company could not receive any participation in its tender held on 12 Oct’15.
Low offers from CIS region
Market traders do not see exports viable from India till CIS countries (Russia and Ukraine) export offers stand at USD 175-180/MT, FoB. Recently, Russian and Ukrainian exporters have cut Pig iron offers in order to match global scrap prices, which have dropped to around USD 40/MT in last one month.
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