India: MMTC Issues 30,000 MT Pig Iron Export Tender

MMTC- India's largest and state owned trading house, has 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 is 14:30 hrs on 07 Mar'19.

The material offered has specification - C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.15% Max. The shipment is scheduled between 21-31 Mar'19 from Paradip port.

Prior to this, the company had floated 30,000 MT which was due on 12 Feb'19. According to market sources report to SteelMint, the tender was concluded at the levels of around USD 355-360/MT, FoB India.

A private Indian pig iron producer concluded a deal early last week. The deal was reported at around USD 355-360/MT FOB India to Bangladesh.

NINL had increased its pig iron prices by INR 750/MT on 13th Feb 2019, amid an increase in iron ore prices and improved demand from the global market. The latest offers by the company floated for Steel grade are at around INR 27,150/MT ex-Cuttack.