Bhubaneswar: Neelachal Ispat Nigam Limited (NINL) has touched record levels in Pig iron exports in the first 6 months (April-September) of the current financial year.
The MMTC and IPICOL (government of Odisha) controlled Pig iron and Billet manufacturer has exported 225,891 MT of Pig iron in the first two quarters of current fiscal, which is a new record for the company.
Previous to this, in the first half of 2007-08, the company had set a record with 195,473 MT of Pig iron exports. However, owing to low demand of Pig iron, exports decreased in the following years.
In the current financial year, export market has been encouraging, following a renewed demand in the global market.
Pig iron is the solid form of hot iron metal, obtained by smelting Iron ore with Coke. It finds its usage in domestic as well as international markets, in electric arc furnaces and foundries.
NINL is the largest Pig iron manufacturer (0.85 MnT pa) in the country, which exports the material, mostly to Southeast Asian countries.
Last year, the company had incurred a loss of INR 1,000 million owing to poor demand both in domestic and global market.
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