Indian Pig Iron Export Tender Fetches Decent Response - Sources
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 on 15 Apr’19 and material shipment was scheduled between 10-20 May'19 from Paradip port.
The material offered had specifications as : C: 3.6-4.3%, Si: up to 1.24% , Mn <1%, S:0.05% max, P: 0.15% Max.
According to market sources report to SteelMint, the company fetched decent response in the tender and highest bid fetched was learned to be in the range of USD 360-365/MT, FoB India. However as per sources the company hasn't concluded the tender so far.
Official confirmation from the company could not be received till the time of publishing this report.
Global pig iron offers have remained range bound this week after softening towards the beginning of month amid decline in global scrap offers. Offers from CIS nations is around USD 345/MT, FoB Black Sea and USD 330-335/MT, FoB Brazil. A trading company also reported to have concluded Brazilian origin pig iron export deal below USD 340/MT, FoB recently.
Prior to this, NINL had floated tender for 30,000 MT pig iron which was due on 26 Mar'19. According to market sources report to SteelMint, the tender received participation from three companies and the highest bid was heard at around USD 360/MT, FoB India.
Indian domestic market awaits NINL domestic price circular - NINL's fresh price circular is due since 12th Apr'19 and the company's last offer floated was at INR 26,250-26,650/MT (USD 376-382) ex-plant, Cuttack (Odisha) for steel grade material.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
