India's MMTC Floats Export Tender of 15,000 MT Pig Iron

MMTC, India's largest and state owned trading house, has floated export tender of 15,000 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 08 Nov'17.

The material offered has specification - C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max. The shipment is scheduled between 21-30 Nov'17 from Paradip port.

Prior to this, MMTC on behalf of NINL had floated pig iron export tender for 30,000 MT which got expired on 13 Sept'17. According to market sources the tender was concluded around USD 380/MT, FoB.

Global Pig iron market overview - Week 45

Global pig iron market continues to witness limited trade activities. Indian pig iron export price assessment is at around USD 330/MT, FoB India. A merchant Indian pig iron manufacturers was heard offering material at USD 350/MT, FoB India but buying interest remained at lower levels than the offer.

Pig iron export offers from CIS nations are heard around USD 330-340/MT, FoB Black Sea. However not much deals were reported at these offers.