Neelachal Ispat increased Pig iron offers on the backdrop of low inventories and decent pick up in demand in market.
Neelachal Ispat Nigam Ltd, one of the largest Pig iron manufacturers in India, has increased domestic offers for Pig iron by INR 400-500/MT.
Currently, offers for N1 grade (Si content below 1.24%) Pig iron are assessed at INR 16,100/MT, ex-Cuttack, (increase by INR 400/MT) with discounts of upto INR 400/MT on bulk purchase. While, N2 grade (Si content 1.25-2.25%) Pig iron is offered at INR 16,500/MT ex-Cuttack, (increase by INR 500/MT).
Discount Table
| N1 Grade Pig iron Prices | ||
| Quantity | Discount Offered | Offers in INR/MT, ex-Cuttack |
| Upto 500 MT | No discount | 16,100 |
| 500 to 2,000 MT | 150 | 15,950 |
| 2,000 MT to 5,000 MT | 300 | 15,800 |
| Above 5,000 MT | 400 | 15,700 |
| N2 Grade Pig iron Prices | ||
| Any quantity | No discount | 16,500 |
N1 grade quantity available for sale: 20,000 MT approx
N2 grade quantity available for sale: 2,000 MT approx
Offer Valid till 20 Jan’16
Recent uptick in domestic steel prices resulted in increased bookings of Pig iron in last two weeks. NINL is said to have increased prices on the backdrop of low inventories.
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