Neelachal Ispat Nigam Limited (NINL) has lowered prices of foundry grade Pig iron by Rs 500/MT w.e.f March 14 and is now charging Rs 22,500-24,000/MT (ex-works) for the same.
Secondary foundry grade Pig iron makers reduced prices up to Rs 500/MT in the beginning of the week on limited buying activities.
Earlier, on March 8, NINL decided to hold steel grade Pig iron sales in domestic market to meet with export orders.
Also, for its to be commissioned Steel Melting Shop, it would require 60% of steel grade Pig iron.
Though, secondary Pig iron makers raised prices (steel grade) up to Rs 500/MT, after NINL's decision, demand remains weak.
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