Neelachal Ispat, India’s largest producer & exporter of Pig iron, has revised domestic Pig iron offers for the month of September.
NINL on Pig iron price revision has corrected offers by INR 100-400/MT. Currently, the company is offering N1 grade (Si 1.24%) at INR 22,500/MT and N2 grade (Si 1.25- 1.79%) at INR 23,000/MT (ex-Cuttack).
Depressed steel market has compelled the Indian manufacturers to correct their prices to 1-year low level. Company has reduced its offers by INR 2,000/MT in last two months.
NINL has mentioned the price validity till 30 Sep, 2014, allowing no additional discounts on bulk purchase, which it used to offer previously.
Pig Iron Exports
There are two export tenders of Pig iron in pipeline. The first tender is floated by NINL for 40,000 MT Pig iron, which will be offered on 17 Sep, 2014 and the second by RINL for 30,000 MT; offered on 25 Sep, 2014. Looking at dull Indian market, manufacturers here prefer to export Pig iron for better realization. NINL’s last Pig iron tender was settled at USD 393.70/MT FoB East Coast.
Leave a Reply