RINL is selling Pig Iron at $460/MT (Ex-plant). It has shifted
its delivery order of domestic demand for the month of June as it is
concentrating on demand from export markets . It has helped the company improve its bottom
line and generate surplus funds on rising dollar.
Rupee closed at a record low of 56.01 per USD yesterday, and is trading around 56.30 today. Experts
are of the opinion that it might touch 58 levels soon.
Rashtriya Ispat Nigam Limited, the second-largest state- run steel maker in the country, has registered a growth of 47% in export of Pig Iron for FY 12. The company's profit after tax (PAT) has gone up by 14 per cent to Rs 750 crore compared to Rs 658 crore a year ago.
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