Neelachal Ispat Nigam Ltd (NINL) raises Pig iron offers in Indian market amid rise in domestic Steel prices.
Neelachal Ispat Nigam Ltd (NINL) has increased Steel grade Pig iron prices by INR 300/MT for April deliveries. Current offers for N1 grade are at INR 18,400/MT on Ex-works (Cuttack, Odisha) basis, last offers were at INR 18,100/MT. The offers will be valid till 20 Apr’15.
Quantity Discount table
| Quantity Purchase | Price (INR/MT) | Discount (INR/MT) |
| Upto 3,499 MT | 18,400 | No Discount |
| 3,500 MT to 7,499 MT | 18,300 | 100 |
| 7,500 MT and above | 18,200 | 200 |
Prices in INR/MT
MMTC’s Pig iron Export Tender receives moderate response
MMTC’s export tender of 30,000 MT Pig iron, conducted on 6 Apr’15, received moderate response, primarily due to lower offers for Pig iron from Russia, Ukraine and Brazil. Bids were heard at USD 255/MT FOB India East Coast. Company has not yet finalized the deal.
India witness a drop of 40% Y-o-Y in Pig iron Exports
Falling global prices & currency fluctuation has lead to sharp fall in Pig iron exports in last financial year (FY15). Export of Pig iron in FY15 reached 0.6 MnT i.e. 0.4 MnT less as compared to last fiscal’s export figures. Pig iron exports from India last year touched around 1 MnT. Major exporters in India for Pig Iron are MMTC, Vizag Steel and Sesa Sterlite.
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