October 12, 2008

Stemcor bags 25,000 tonnes pig iron in RINL tender

Metal Bulletin reported that Stemcor has won an auction for 25,000 tonnes of basic steelmaking pig iron from Vizag Steel for February 2008 shipment with a winning bid of USD 465 per tonne FOB.

Mr R Shankar GM of marketing at Vizag Steel said that "Domestic prices are slightly lower than what we can get for export so we opted to go ahead with the export tender."

Vizag’s next pig iron export tender for 25,000 tonnes of material for March 2008 shipment was due to expire on February 20th 2008.