NINL might declare its April Pig iron prices on the 3rd

NINL – Price setter of Indian Pig iron industry is expected to take a decision for its April Pig iron prices on the 3rd.

Importers of Indian Pig iron told SteelMint that price bids of NINL's 60,000 tons export tender, which is to open tomorrow, might touch $403-405/MT FOB.

Hence, decision regarding domestic offers at Rs 22,500/MT (ex works) now, would depend on response for exports order. The company is to commission its SMS in the first week of April.

RINL has not been offering Pig iron in domestic market from the mid of March and was previously selling at Rs 21,600/MT (basic).