Neelachal Ispat Nigam Ltd (NINL), India’s largest and state owned steel grade pig iron manufacturer & exporter has reduced pig iron prices by INR 500/MT (USD 8) after recent hike made in same proportion on 21st May’18.
SteelMint has reported earlier that the price hike by NINL on 21st May’18 has surprised to the industry as supply of pig iron in merchant market already improved after NINL’s blast furnace capital repair which has mount selling pressure on other private pig iron producers.
As per NINL’s price circular the latest offers for Steel (N1) grade at INR 30,000/MT (USD 441); basic price, ex-Cuttack, East India. Bulk purchase discounts remained unaltered in the range of INR 200-400/MT.
For NINL price circular click here
Presently, NINL’s export tender of 40,000 MT non-alloy Pig Iron is due for which last date of bid submission is 25th May’18. The shipment of material have scheduled between 20 Jun-30 Jun’18 from Paradip port.
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