Indian Pig Iron Export Tenders Extended on Lukewarm Response
MMTC- India’s largest and state-owned trading house, had floated export tender of 30,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL).
The due date for submission of bids was 14:30 hrs on 08 Jan'19. In the recent update received, the company has extended the due dates till 18th Jan'19. Amid lukewarm response, the company has extended the tender, as per sources.
On 7th Jan, the company reduced domestic pig iron offers by INR 500/MT. Current offers for Steel Grade at Rs 27,400/t (ex-Cuttack).
Vizag Steel- a leading state-owned Pig iron producer, and exporter, had issued an export tender of 30,000 MT basic grade steel making Pig iron for any country other than Nepal. The tender was due on 08 Jan'19. As per the delivery schedule, the last date of the delivery period shall be 28 Feb'19. As per sources, the tender has been extended till 18 Jan'19.
Global Pig iron market turns weak - CIS pig iron export offers are heard at USD 345/MT, FoB Black Sea. Pig iron export offers from Brazil stable at USD 340-345/MT, FoB Brazil. Amid weakening global scrap prices, global pig iron market is expected to remain bearish.
source: SteelMint
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