Neelachal Ispat Nigam Ltd (NINL) has reduced Pig iron prices by INR 1,000/MT for steel and foundry grades.
NINL, a state-owned and India’s largest merchant Pig iron supplier, has reduced Pig iron prices by INR 1,000/MT due to falling steel prices in domestic market.
Current offers for steel grade are assessed at INR 15,900/MT (USD 235) and for foundry at INR 16,500/MT (USD 245) ex-plant. The plant is also offering discount on steel grade by upto INR 400/MT and no discount for foundry grade.
Last month offers for steel grade were assessed at INR 16,900/MT and foundry grade at INR 17,500/MT.
Recently, NINL has also concluded an export deal of about 15,000-20,000 MT Pig iron at an average price of USD 240/MT, FoB Paradip Port through MMTC.
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