India: Vizag Steel Cancels Pig Iron Export Tender

Vizag Steel, a leading state-owned Pig iron producer, and exporter, had issued a new export tender of 25,000 MT basic grade steel making Pig iron for any country other than Nepal.
The offered material had specifications - C: 3.5 - 4.8%; Mn: 0.50% (max); Si: 1.5% (max); P: 0.12% (max); S: 0.050% (max).

This tender was due on 17 Sept'19. As per the delivery schedule, the last date of Shipment shall be 31 Oct'19.

According to market sources report to SteelMint, the company fetched limited participation following which the company canceled the tender.

Global pig iron prices have come down sharply following the decline in scrap offers. Current assessment stands at USD 300/MT FoB Black Sea & USD 310-313/MT FoB Brazil.