Steel grade Pig Iron at Rashtriya Ispat Nigam Limited (RINL) is being quoted at Rs 24,500/MT (Ex works Vizag), lower by Rs 500/MT for August 2012.
Buyers interested to place bookings for 3 rakes of material are being offered discount of Rs 500/MT to Rs 24,000/MT (Ex works Vizag).
Response for exports tender of 30,000 tons steel grade that was floated on the 31st of July is expected to be declared tomorrow.
“On account of low trading volumes of Pig Iron in both domestic and international market last month, Vizag Steel reduced prices”, said sources.
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