Neelachal Ispat Nigam Limited (NINL), Nation's largest Pig iron producer has w.e.f 25 June withdrawn the Pig iron price structure revised on the 10th of this month and sales is on hold at the moment.
The state owned producer is to declare the new domestic Pig iron prices on 26 June and streets are hopeful of some correction, of around Rs 500/MT.
Some discount structure, of Rs 400/MT, might also be introduced by NINL – Price setter of Indian Pig iron industry to increase the sales volume.
Last offered prices:
Grade (Si%) Prices
N1 (Up to 1.24%) 23,000
N2 (1.25 to 1.79%) 23,500
N3 (1.8 to 2.2%) 24,500
Basic prices (Rs/MT); Ex NINL plant basis
NINL's pig iron sales came down in the last couple of weeks due to the similar reasons that market has been hearing about i.e. RINL offering discount of Rs 400/MT to Rs 22,100/MT (ex works) on purchases of 8,000 tons.
Also, Tata Steel's Pooled iron at a minimum price of 19,850/MT (ex works Jamshedpur).
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