Neelachal Ispat Nigag Limited (NINL), state owned and largest pig iron manufacturer in India has fetched highest bid from an Australian company, named Prime Carbon for export of steel grade pig iron at $407/MT FOB Paradeep Port last evening. The company has not yet finalized the deal and might take a day more, sources told SteelMint.
In the month of January, NINL has been able to sell out Pig iron (steel) in huge quantity to domestic buyers. According to sources, the company got rid of around 20,000 tons of its material in first fifteen days. Hence, NINL took a decision to hold domestic offers.
Industry experts see pig iron prices in Indian domestic market moving up next month, specially after export realization has been good for Indian sellers.
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