Neelachal Ispat, India’s largest producer & exporter of Pig iron, has revised Pig iron prices for the 3rd time in this month.
Arrival of monsoon has impacted the construction activities, which in turn affects the demand for raw materials. Sponge iron prices came down by INR 500-800/MT in a week. This has compelled NINL to reduce its offers by INR 250/MT.
Currently, N2 grade Pig iron (Si 1.25% to 1.79%) is being offered at INR 24,250/MT (Ex-Cuttack) and N1 grade (Si upto 1.24%) offers remain stable at INR 24,100/MT. Earlier this month, NINL had corrected its offers by INR 200-400/MT.
NINL Pig Iron Prices
|
Price Release |
N1 grade |
N2 grade |
|
23 Jul’14 |
24,100 |
24,250 |
|
15 Jul’14 |
24,100 |
24,500 |
|
10 Jul’14 |
24,500 |
25,000 |
Prices in INR/MT (Ex-Cuttack)
Offers are valid upto 31 Jul, 2014
In addition, the company 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 |
24,100 |
No discount |
|
For lifting 1 rake |
24,000 |
100 |
|
For lifting 2 rakes |
23,800 |
300 |
|
For lifting 3 rakes or more |
23,600 |
500 |
1 Rake = 3,500 MT
Basic Price in INR/MT
NINL’s 30,000 MT Pig iron export tender is expected to open on 28 Jul, 2014 and shipment of the material is to take place in second half of August.
MMTC had floated previous tender on 27 May, 2014 for 30,000 MT in which 4 trading companies had participated namely Prime Carbon GmbH (Switzerland), MTPL (Singapore), STX Corporation (South Korea) and Ronly Holdings (UK). This export deal was finalized with MTPL (Singapore) at USD 395.21/MT FoB Paradip port basis.
NINL is a company promoted by MMTC & Investment Corporation of Orissa Limited (IPICOL). The company has an integrated capacity of 1.1 MnT Iron & Steel plant at Jajpur (Odisha).
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