Neelachal Ispat increases Pig iron offers in domestic market, despite regular failures in export tender.
Neelachal Ispat Nigam Ltd, one of the largest Pig iron manufacturers in India, increases Pig iron offers sharply by INR 600/MT for September deliveries. Currently, offers for N1 grade Pig iron are at INR 17,000/MT, ex-Cuttack, which were previously at INR 16,400/MT. The company is also allowing discounts upto INR 300/MT on quantity purchase.
| Quantity Purchase | N-1 grade | |
| Discounts Offered | Offers in INR/MT | |
| Up to 499 MT | No discount | 17,000 |
| 500 to 999 MT | 100 | 16,900 |
| 1,000 MT to 1,999 MT | 200 | 16,800 |
| 2,000 MT & above | 300 | 16,700 |
Valid till; 18 Sept’15
Source: SteelMint Research
Prices of other Primary manufacturers
VIzag steel (RINL) which is among one of the largest Pig iron producer and exporter has rolled-over its prices for the month of September. Whereas SAIL at Rourkela is yet to open fresh offers. Its last offer for basic grade Pig iron was INR 16,900/MT, ex-plant with quantity discounts upto INR 400/MT.
Meanwhile, SAIL-IISCO plant is also heard to have increased their offers for Pig iron by INR 500/MT to INR 17,150/MT, ex-works, Burnpur.
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