Neelachal Ispat has increased domestic offers for Pig iron by INR 700/MT; validity till 16 Feb’16.
Neelachal Ispat Nigam Ltd, one of the largest Pig iron manufacturers in India, has raised domestic offers for Pig iron by INR 700/MT. Current offers for N1 grade (Si content below 1.24%) Pig iron are assessed at INR 17,000/MT, ex-Cuttack (rise by INR 700/MT) with discount of upto INR 400/MT on purchase of bulk quantities. While, N2 grade (Si content 1.25-2.25%) Pig iron is available at INR 17,500/MT, ex-Cuttack (increased by INR 700/MT).
Discount Table
| N1 Grade Pig iron Prices | ||
| Quantity | Discount Offered | Offers in INR/MT, ex-Cuttack |
| Upto 500 MT | No discount | 17,000 |
| 500 to 2,000 MT | 150 | 16,850 |
| 2,000 MT to 5,000 MT | 300 | 16,700 |
| 5,000 MT and above | 400 | 16,600 |
| N2 Grade Pig iron Prices | ||
| Any quantity | No discount | 17,500 |
N1 grade quantity available for sale: 25,000 MT approx
N2 grade quantity available for sale: 3,000 MT approx
Offer valid till 16 Feb’16
The announcement made by Indian government on imposition of MIP last Friday (5 Feb’16) has stimulated Indian steel market; steel prices have shown improvement by INR 2,000-3,000/MT in last 4-5 days. As a result, domestic Pig iron prices are also expected to follow the suit, and increase by INR 1,000-1,500/MT.
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