Neelachal Ispat Nigam Limited (Cuttack) has met with good response from consumers of Pig iron (steel) at new price levels, which was raised by Rs 500/MT to Rs 22,500/MT, on the 12th.
Revised steel grade Pig iron prices (Ex works):
MSP Steel & Power Ltd (Raigarh): Move up by Rs 200/MT more to Rs 23,500/MT
Jayaswal Neco Ind Ltd (Raipur): Expensive by Rs 500/MT to Rs 25,000/MT
April onward, market will meet with low Pig iron supply from NINL as 17% (152,000 tons) of Pig iron will be used for its Steel Melting Shop.
Demand was weak in the past three months, has improved before the arrival of monsoon and would continue to be good up to June.
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