NINL’s Pig iron offers have reached to 20-month high levels today with a price rise of INR 3,000/MT.
NINL, which is considered as a price trend decider for steel grade Indian Pig iron, has today increased its offers once again by INR 3,000/MT (USD 45). In the beginning of the current month, the company had raised its offers by INR 1,300/MT to INR 17,700/MT (USD 265).
Current prices have hit 20-month high level. The same prices were last seen in the 1st week of Jan’15.
Current offers for steel grade (N1) are assessed at INR 20,700/MT (USD 310) on ex-plant basis. The company is also offering a discount of INR 200/MT on purchase of more than 2,000 MT of Pig iron.
According to industry experts, the company is continuously rising offers on the grounds of expensive coking coal prices and overwhelming response received from domestic and global buyers at its last offers of INR 17,500-17,700/MT (USD 265).
It seems that other manufacturers are likely to follow suit.
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