In contrast to market predictions, Neelachal Ispat Nigam Limited (NINL), w.e.f May 9, has raised Pig iron (steel and foundry grade) prices by Rs 500/MT, for domestic buyers.
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), Valid till May 31; Ex NINL plant basis
Though, steel market is witnessing a negative trend in prices, Pig iron prices were constant in last one month.
NINL's Pig iron offers have stepped up due to scarcity in domestic market as RINL is not holding sufficient stock as of now.
Also, April 8 onward, NINL has met with improved booking orders.
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