Neelachal Ispat Nigam Limited (NINL) – Price setter of Indian Pig iron industry, located at Cuttack (Odisha), has unchanged Basic and Foundry grade Pig iron prices for Indian buyers.
The state owned producer has w.e.f 26 June, offered discounts for N1 (Basic) grade Pig iron only, which was last seen on the 21st of January.
Whereas, there are no discounts offered for N2 (Basic) and N3 grade (Foundry) material.
*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)
NINL Pig iron Prices w.e.f 26 June
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) Valid till 12 July
NINL has introduced discounts on quantity purchases of N1 grade Pig iron as domestic Pig iron sales has not been encouraging in the last fortnight.
RINL (Vizag) has been offering Pig iron at quiet low prices with further discounts and domestic takers are preferring to buy Tata Steel's (Jamshedpur) Pooled iron available at cheaper prices.
The manufacturer (NINL) is holding about 30,000 tons of Pig iron presently. To liquidate the stock, it has offered discounts to buyers interested to lift bulk quantities of Basic grade Pig iron.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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