Neelachal Ispat Nigam Limited (NINL) is to take a decision regarding mid-July Pig iron (steel and foundry grade) prices on the 17th of July.
NINL Current Pig iron Prices
Grade Si% Price
N1 Upto 1.24 23,000
N2 1.25-1.79 23,500
N3 1.8-2.2 24,500
(Basic Prices; Ex NINL Plant basis)
*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)
Demand in Pig iron is weak at present and it is difficult that prices would continue to sustain at current levels, for domestic takers.
The prevailing discount structure might be improved.
Also, Iron ore lumps – the most important raw material in Pig iron making, is cheaper at Odisha now, by up to Rs 400/MT.
There are no chances of any hike in Pig iron offers this month, as semi finished prices have not increased.
NINL is not holding the material in large quantities presently and is looking into the export orders it finalized, for shipment of 30, 000 tons each i.e. during second half of July and late August.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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