Neelachal Ispat Nigam Ltd (NINL)- India’s largest and state-owned steel grade pig iron manufacturer & exporter is more keen on exports. It had floated an export tender for 30,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids was yesterday. The material offered had specification – C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max. If sources are to be believed the company is likely to go ahead with the export tender.
NINL extends domestic pig iron price circular validity – On 20th Sept. NINL had raised its pig iron prices for steel grade by INR 300/MT (USD 4). The latest offers for Steel grade by NINL floated at INR 30,200/MT (USD 415), against last assessment at INR 29,900/MT (USD 411); prices are basic, ex-Cuttack, East India. Bulk purchase discounts remained unaltered in the range of INR 100-400/MT. As per updates received, traders have not actively booked quantities in recent price circular, however, end users have booked some.
The price validity for the same was till today which has been extended till 29 Sept’18. Fresh price circular of NINL is expected to be opened in the next week.
Domestic pig iron prices in other major eastern markets like Durgapur, Giridih have weakened on weekly premises by around INR 500/MT.
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