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
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
