After a recent cut of INR 700/MT, NINL further reduces offers by INR 300/MT for August deliveries.
Neelachal Ispat Nigam Ltd (NINL) is offering N1 grade Pig iron (Si below 1.24%) at INR 16,400/MT, ex-Cuttack with a price cut of INR 300/MT from previous offering at INR 16,700/MT and has also allowed discount upto INR 300/MT on bulk purchase upto 2,000 MT.
Whereas, the company has reduced INR 800/MT on N2 grade Pig iron (Si above 1.25%) at INR 16,700/MT ex-Cuttack, with no discounts. Recently Vizag Steel, another state owned and large Pig iron manufacturer cut prices by INR 800/MT; current offers for steel grade at INR 17,300/MT, ex-Vizag.
The company’s (NINL) last export tender, which was conducted by MMTC, failed to receive response and has been extended to 11 Aug’15. Last export deal for 40,000 MT was concluded by MMTC in the month of June’15 at USD 264/MT FoB to Prime carbon GmbH.
Quantity Discount Table
| Quantity Purchase | N1 grade | N2 grade | ||
| Discounts Offered | Offers in INR/MT | Discounts Offered | Offers in INR/MT | |
| Up to 499 MT | No discount | 16,400 | No discount | 16,700 |
| 500 to 999 MT | 100 | 16,300 | No discount | 16,700 |
| 1,000 MT to 1,999 MT | 200 | 16,200 | No discount | 16,700 |
| 2,000 MT & above | 300 | 16,100 | No discount | 16,700 |
Valid till 14 Aug ‘15
Source: SteelMint Research
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