Neelachal Ispat Nigam Ltd, one of the largest pig iron manufacturers in India, has sharply reduced domestic offers for Pig iron by INR 400-600/MT.
Currently, offers for N1 grade (Si content below 1.24%) pig iron are assessed at INR 16,800/MT, ex-Cuttack (down by INR 600/MT). While N2 grade (Si content 1.25-2.25%) pig iron are offered at INR 17,300/MT (down by INR 400/MT) ex-Cuttack. The company has also allowed discount of upto INR 300/MT on purchase of bulk quantity.
Discount Table
| Quantity | N1 grade Pig iron | N2 grade Pig iron | ||
| Discount Offered | Offers in INR/MT, ex-Cuttack | Discount Offered | Offers in INR/MT, ex-Cuttack | |
| Up to 499 MT | No discount | 16,800 | No discount | 17,300 |
| 500 to 999 MT | 100 | 16,700 | No discount | 17,300 |
| 1,000 MT to 1,999 MT | 200 | 16,600 | No discount | 17,300 |
| 2,000 MT & above | 300 | 16,500 | No discount | 17,300 |
N1 grade quantity available for sale: 25,000 MT approx
N2 grade quantity available for sale: 5,000 MT approx.
Valid till 26 Oct’15
MMTC has revised the offers for second time this Oct’15. Last time it had reduced prices by around INR 400/MT.
MMTC issues export tender
MMTC has invited tender for export of 40,000 MT basic grade Pig iron till 26 Oct’15. It’s last export tender held in the month of Sept’15 remain unattended.
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