Neelachal Ispat (NINL) – India’s largest Pig iron producer with annual installed capacity of around 9 lakhs MT, has received good response in recent domestic pig iron price circular, in which the company has rolled over prices for both Steel & Foundry grade materials.
On 24 Jul’18, NINL had floated fresh domestic prices for Steel (N1) grade at INR 27,500-27,900/MT (USD 400-406) & Foundry (N2) grade at INR 28,500/MT (USD 415); prices are excluding GST, ex-Cuttack, East India. The price validity is expiring tomorrow – 31st Jul’18.
As per trade sources, NINL received good response in pig iron offers and more than 30,000 MT has been booked by Central & North India based stockiest.
As per sources, out of total bookings in current price circular, near about 70% quantity has been booked for Central region.
The mills in Central region – Raipur & Raigarh are largely melts NINL pig iron due to limited supply by local manufacturers namely Jindal Steel & Jayaswal Neco Industries.
In addition, competitive offers by NINL is the major key factor which influence producers to procure NINL material rather than from local producers. For Instance, Jindal Steel’s current offer for Steel grade Pig iron hovering at INR 29,000/MT ex-plant, Raigarh, Central India, equivalent to INR 29,200-29,300/MT landed to Raigarh based plants. However, for same terms NINL’s pig iron available at INR 29,000/MT.
NINL logs best ever Pig Iron despatch with ramp-up productions
As per reports, NINL has achieved its best ever saleable pig iron dispatch, about 4,190 MT on 24th Jul’18 from its Kalinganagar, Odisha plant. Prior to this, healthy volume of dispatch was recorded at 3,718 MT on 26th Nov’15.
NINL, has completed its blast furnace capital repair works in Apr’18, after that company’s steel production continue to edge up.
In Jun’18, NINL logged its best ever hot metal production at 74,960 MT and Similarly Pig iron at 69,780 MT. During May-June 2018, the company has reports 29.65% growth in production over the comparable period of last year.
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