India: SAIL May Cancel Pig Iron Export Tender Amid High Domestic Realization
Mining News Pro - Steel Authority of India Ltd. (SAIL) - a Government of India Enterprise, had floated export tender for 18,500 MT pig iron from its Bokaro Steel plant. The tender put up was for steel making Pig Iron offered from Bokaro Steel plant has following specifications - C-3.8-4.6%, Mn-0.05-0.20%, S-0.020-0.10% , and P-0.10-0.20%.

According to Mining News Pro -Due date for bid submission was 17:00 hrs as per IST on 18 Sep’18 and the cargo shipment from Haldia port was scheduled within 31 Oct`18.

According to market sources report to SteelMint, the tender received participation from around 3-4 companies and the highest (H1) bid was heard to around USD 380-385/MT, FoB India.

As per trade sources report, the company is likely to cancel the tender amid high realizations in domestic market. Its domestic prices in Burnpur (West Bengal) is heard around INR 30,300-30,500/MT (USD 416-418), basic.

Thus there is a wide gap in prevailing domestic prices and bids received in export tenders, owing to which company might cancel it.

Global Pig iron export offers - Pig iron export offers from CIS nations declined slightly and are assessed at USD 365-370/MT, FoB Black Sea against previous week`s assessment of USD 370-375/MT, FoB. Assessment for Brazil pig iron export is around USD 360-370/MT, FoB.


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