Neelachal Ispat Nigam Ltd (NINL) – India’s largest and state owned Pig iron manufacturer has keep offers steady for High Silicon (Foundry grade) pig iron which is valid till 20th Nov’18.
As per NINL price circular, the company is offering high silicon (2% to 5%), Foundry Pig iron at INR 29,900/MT (USD 411), which is similar against floated offers on 28th Oct’18.
Also the producer has rolled over offer for N2 grade Pig iron at INR 29,400/MT (USD 405), having silicon proportion is about 1.25% to 2.25%. All offers are excluding GST, ex-plant Cuttack, East India.
Meanwhile offers through the other major Foundry Pig iron producers i.e. TATA Metaliks being unaltered to around INR 33,800/MT (USD 461) for Nov’18 deliveries, Foundry (high silicon) pig iron (ex-plant) Kharagapur, East India.
Specifications of NINL Pig iron
| Pig iron | Si | Mn | S | P | C | Price in INR/MT |
| N2 Grade | 1.25% to 2.25% | <1% | 0.05% Max | 0.20% Max | 3.6% to 4.3% | 29,400 |
| High Silicon | 2% to 5% | <1.0% | 0.05% Max | 0.25% Max | 3.6% to 4.3% | 29,900 |
Steel Grade Pig Iron
The private producers based in Eastern India – West Bengal & Jharkhand have reduced prices during the 1st week of Nov’18, however after that the prices have remained more or less firm.
As per them, due to high raw materials, there is no scope for price corrections, hence despite moderate demand, the prices are maintained at same levels.
The prices for steel grade pig iron reported at INR 29,300-29,700/MT ex-Durgapur at West Bengal & INR 29,000/MT ex-plant at Jharkhand.
Meanwhile prices for same grade in Central India – Raipur hovering at INR 30,200-30,300/MT & in South India at around INR 30,500-31,000/MT, ex-works & excluding GST.
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