Neelanchal Ispat Nigam has again reduced Pig iron offers by INR 1,000/MT post price cut in the starting of current month by INR 900/MT (USD 13). Current offers for steel grade Pig iron (N1 grade) are assessed at INR 16,900/MT (USD 250). The company is also providing discount of INR 100-400/MT on bulk purchasing.
However, the plant has also opened prices for N2 grade Pig iron at INR 17,500/MT.
In the starting of current month, the company had opened N1 grade Pig iron prices with a reduction of INR 900/MT at INR 17,900/MT (USD 260-270).
Pig iron offers by MMTC on behalf of NINL
| N1 Grade Pig Iron Prices | ||
| Quantity | Discount Offered | Offers in INR/MT, ex-Cuttack |
| Upto 2,000 MT | No discount | 16,900 |
| Above 2,000 MT | 100 | 16,800 |
| Above 4,000 MT | 200 | 16,700 |
| Above 6,000 MT | 300 | 16,600 |
| Above 8,000 MT | 400 | 16,500 |
Offers valid till 15th Jul’16
Note: Exchange rate:USD 1= INR 67.6
For more terms & specifications please click here
Secondary market
During the month, Pig iron offers in secondary market also fell by INR 500-1,800/MT (USD 8-25), following price correction by NINL and poor demand across the globe. Current offers for steel grade are assessed at INR 18,800/MT ex-Raipur (central India), INR 17,100-17,200/MT ex-Durgapur, INR 16,700-16,800/MT ex-Rourkela (east India), INR 22,000/MT ex-Ludhiana (north India) and INR 18,500/MT ex-Hyderabad (south India).
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