Neelachal Ispat, a state owned and one of the largest Pig iron manufacturers, has released Pig iron prices for the month of July, with a downfall of INR 250/MT.
Witnessing subdued demand in domestic market, NINL corrects its offers by INR 250/MT. Currently, it is offering N1 grade (Si upto 1.24%) at INR 24,500/MT and N2 grade (Si 1.25% to 1.79%) at INR 25,000/MT (Ex-Cuttack).
NINL Pig Iron Prices
|
Month of Price Release |
N1 grade |
N2 grade |
| May’14 | 24,250 | 23,500 |
| Jun’14 | 24,750 | 25,000 |
| Jul’14 | 24,500 | 25,000 |
Prices in INR/MT (Ex-Cuttack)
Offers are valid upto 31 Jul, 2014. Company, in addition is offering discount upto INR 500/MT on bulk purchases.
|
Quantity (MT) |
Price (INR/MT) |
Discount Offered (INR/MT) |
|
For lifting less than 1 rake |
24,500 |
No discount |
|
For lifting 1 rake |
24,400 |
100 |
|
For lifting 2 rakes |
24,300 |
200 |
|
For lifting 3 rakes or more |
24,000 |
500 |
(1 Rake = 3,500 MT)
Pig iron prices remain unchanged in other major market, with Raipur offering Steel grade at INR 26,300-26,500/MT and Raigarh at INR 25,800/MT. However, prices at Durgapur corrects by INR 200/MT to INR 25,000/MT (basic).
Currently, a plant at Giridih is still going through operational shut down having no Pig iron to offer. On the other hand, Roukela manufacturers are offering at INR 25,400/MT (basic).
Similarly, Pig iron market in western India remains unchanged and offering at INR 26,500/MT (basic). Budget 2014-2015 did not come with any great surprise for Steel Industry. As a result, market is expected to remain sluggish for a while.
|
Steel Grade |
Prices |
Foundry Grade |
Prices |
|
Durgapur |
25,000 |
Durgapur |
29,500 |
|
Ludhiana |
30,600-30,900 |
Ludhiana |
33,000-30,500 |
|
Mumbai |
26,500 |
Mumbai |
28,250 |
|
Cuttack |
24,500-25,000 |
Goa |
30,000-30,500 |
|
Raipur |
26,300-26,500 |
|
|
|
Raigarh |
25,800 |
|
|
|
Rourkela |
25,400 |
|
|
|
Jharsugda |
25,500 |
|
|
|
Vizag |
25,000 |
|
Ex-Plant Price
Ludhiana: VAT extra
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