Neelachal Ispat Nigam Limited (NINL) – India’s largest pig iron manufacturer & exporter has reduced its steel grade pig iron prices by INR 500/MT (USD 7) following drop in offers by private mills as well as declining billet prices in domestic market.
NINL has floated latest offers for steel grade pig iron at INR 26,900/MT (USD 382), the prices are down by INR 500/MT (USD 7) as against earlier offers which was circulated during Apr’19 end at INR 27,400/MT (USD 395) and was valid till 11th May’19. The prices are ex-plant, Cuttack, Odisha (eastern India) & excluding bulk purchase discount of INR 100-400/MT.
The private mills have cut pig iron prices by INR 300-500/MT (USD 4-7) during Jun’19 due to slump in domestic billet prices close to INR 1,000-1,500/MT (USD 14-21) in same duration.
As per assessment, the latest offers of steel grade pig iron by private producers hovering at INR 26,800-27,200/MT ex-Jajpur(Odisha), INR 27,500-28,000/MT ex-Jharkhand, INR 27,500-28,000/MT ex-Durgapur, INR 27,800/MT ex-Raigarh, INR 28,000-28,200/MT FoR Raipur & INR 29,500-30,000/MT FoR Ludhiana; excluding 18% GST.
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