Neelachal Ispat, a state owned and one of the largest Pig iron manufacturers, has released Pig iron prices for the month of June, with a downfall of INR 500/MT.
Post Supreme Court’s order on temporary suspension of Iron ore mines in Odisha, Pig iron prices shot up in Indian market by INR 1,200-1,500/MT. However with falling Billet and Sponge iron prices, Pig iron prices have also started witnessing correction.
Prices have noticed a downtrend of INR 500-1,000/MT from various private manufacturers located in eastern part of India.
NINL is currently offering N1 grade (Si upto 1.24%) at INR 24,750/MT, down by INR 500/MT and N2 grade (Si 1.25% to 1.79%) at INR 25,000/MT (Ex-Cuttack). The offer is valid upto 30 Jun, 2014.
|
Date of Price Release |
N1 grade |
N2 grade |
|
13 May’14 |
23,000 |
23,500 |
|
22 May’14 |
24,500 |
– |
|
26 May’14 |
25,250 |
– |
|
10 Jun’14 |
24,750 |
25,000 |
Prices in INR/MT (Ex-Cuttack)
The company is also availing some discount to make its offers look more lucrative. It is providing discount upto INR 500/MT in bulk purchases. The discount details are as follows:
|
Quantity (MT) |
Price (INR/MT) |
Discount Offered (INR/MT) |
|
For lifting less than 1 rake |
24,750 |
No discount |
|
For lifting 1 rake |
24,650 |
100 |
|
For lifting 2 rakes |
24,550 |
200 |
|
For lifting 3 rakes |
24,400 |
350 |
|
For lifting more than 3 rakes |
24,250 |
500 |
(1 Rake = 3,500 MT)
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