India: MMTC Issues 30,000 MT Pig Iron Export Tender on Behalf of NINL
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Company's previous export tender was canceled amid disparity between bids received and the company's expectations.
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 15 Apr'19.
This tender was floated by the company on the month of March for export of Pig Iron. As per market sources, the tender did not receive any aggressive response over competitive offers. It seems the company must have canceled the previous tender and floated the fresh tender for same quantity and specification.
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 10 May - 20 May'19 from Paradip port.
Prior to this, the company 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.
Market participants mentioned that the company was looking for higher bids, following which the company canceled the tender. Higher realization in the domestic market and recent appreciation of INR against USD could also be the factors behind the cancellation of the tender.
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