India: Vizag Steel May Cancel Pig Iron Export Tender Amid Low Participation
Rashtriya Ispat Nigam Limited (RINL) - a leading state-owned Pig iron producer and exporter had issued an export tender of 21,000 MT basic grade steel making Pig iron for any country other than Nepal.
The material put up for tender had specifications: Carbon: 3.5-4.8 %, Manganese: 0.50% max, Silicon: 1.5% max, Phosphorus: 0.18% max, Sulphur: 0.060% max.
This tender was due on 27 June’19 and bid validity is till 04 July'19. As per the delivery schedule, the last date of shipment shall be 31 July’19.
According to market sources report to SteelMint, the tender may get cancelled. As per sources the tender received limited participation from one company. Amid disparity between bids and expectations, company may cancel the tender.
Global pig iron market is expected to gain momentum after last week's price hike in global scrap offers. Last week's assessment for CIS origin pig iron stands at USD 330-335/MT, FoB Black Sea. On the other hand last domestic pig iron offers of Vizag Steel was at INR 29,100-29,200/MT (USD 422-424) (ex-Vizag, excluding GST). Amid high realization in domestic markets, company is likely to cancel the export tender.
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
