Neelachal Ispat Nigam Limited (NINL), has w.e.f the 24th of July, lowered Steel (N1 & N2) and Foundry grade (N3) Pig iron prices by Rs 500/MT for domestic takers.
Price setter of the Indian Pig iron industry located at Cuttack (Odisha), has considered no alteration in the discount structure.
NINL's Pig iron Prices w.e.f the 26th of June
Grade Si% Price (Rs/MT)
N1 Upto 1.24 22,500
N2 1.25-1.79 23,000
N3 1.8-2.2 24,000
(Basic Prices; Ex NINL Plant basis)
Prices valid till the 16th of August
N1 Rail/Road dispatches; N2 & N3 Road dispatches only
*Quantity Discount
3,700 tons Rs 250
7,400 tons or more Rs 500
*1 Rake – 3,700 tons & 2 Rakes – 7,400 tons (Approx)
In the latest article about NINL, we wrote that we were highly expecting a correction of Rs 500/MT looking at the falling trend in steel prices across India.
The state controlled and Nation's largest Pig iron maker is currently holding about 30,000 tons of the material, which will be moved for export deal been finalized earlier.
NINL is concentrating on exports market presently and offering a limited quantity of Pig iron to Indian buyers.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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