It is reported that India's MMTC held a 30,000 tonne of pig iron export tender for June shipment.

However, the highest tender is from Singapore MMTC Transnational Pte Ltd at USD 273.75 per tonne FOB, the second highest price is USD 270 per tonne FOB.

As the tender price of pig iron exports was lower than expected; therefore, it is uncertain whether MMTC and MTPL can complete the transaction.

It is learned that MMTC is now negotiating with MTPL for the price. However, it may not be able to reach an agreement.

In the East Asian market, imported pig iron price is going up, the Japanese pig iron exported to China at the price of USD 298 per tonne CFR to be shipped in June.

(Sourced from YIEH)