Vizag Steel- a leading state-owned Pig iron producer and exporter, had issued an export tender of 25,000 MT basic grade steel making Pig iron for any country other than Nepal. The tender was due on 4 Mar’19.
The material offered had specifications- Carbon: 3.5-4.8 %, Manganese: 0.50% max, Silicon: 1.5% max, Phosphorus: 0.12% max, Sulphur: 0.05% max. As per the delivery schedule, the last date of shipment shall be 31 Mar’19. The offer given by the bidder will remain valid till 11 Mar’19.
As per sources, the company might cancel the tender owing to disparity in bids and expectations.
Vedanta’s 20,000 MT pig iron export vessel at anchorage – Western India based pig iron manufacturer is to export 20,000 MT pig iron shortly. As per data maintained with SteelMint, vessel named ‘Knossos’ is seen at anchorage at Mormugao port. According to market sources report to SteelMint, the deal was concluded at around USD 355-360/MT, FoB India and the cargo is likely to be shipped to Bangladesh.
Global pig iron market overview – Global Pig iron offers have improved amid hike in global scrap prices. Pig iron export offers from CIS nations has moved up to USD 340/MT, FoB Black Sea. Pig iron export offers from Brazil is assessed around USD 335/MT, FoB.
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