Neelachal Ispat Nigam Limited, India’s one of the largest Pig iron manufacturer and exporter keeps Pig iron prices unchanged for the rest of August month.
The company has offered N1 grade Pig iron (Si content upto 1.24%) at INR 16,400/MT, with additional discount of INR 300/MT on bulk purchases and N2 grade (Si content above 1.25%) at INR 16,700/MT, ex-Cuttack.
The offer expires on 4 Sept’15, a day after the Pig iron export tender (3 Sept’15). It may be noted that the company in its previous export tender, held on 11 Aug’15, was unable to receive response from global participants. Hence, it had extended the dates to 3 Sept’15.
Now, the company is waiting for response to the export tender on 3 Sept’15 so as to get some direction for domestic pricing.
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 3 Sept’15
Source: SteelMint Research
Indian Pig iron market
Domestic Pig iron market continues to remain firm all across India. With slight improvement in sponge and billet prices, Pig iron prices has got some support. Currently, steel grade Pig iron prices all across India are hovering in the range of INR 16,400-18,500/MT, ex-works.
Market participants are waiting for SAIL-RSP to open its fresh Pig iron offers. Its previous offers were at INR 16,900/MT with discounts of INR 400/MT.
Indian Pig Iron Prices as on 25 Aug’15
| Particular/Delivery | Prices | Change |
| Ex-Durgapur | 17,700-18,000 | + 400 |
| FOR Hyderabad | 18,500 | 0 |
| Ex-Jharsuguda | 16,800 | 0 |
| Ludhiana (including ED) | 21,900 | 0 |
| Ex-Raigarh | 17,600 | 0 |
| Ex-Raipur | 18,500 | + 200 |
| Ex-Rourkela | 16,900 | 0 |
| Ex-Vizag | 17,300 | 0 |
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