Neelachal Ispat Nigam Limted (NINL) has kept pig iron prices unchanged for both steel & foundry grade. Prior to this, the company has sharply increased it’s prices for both Steel & Foundry grade by INR 1,500/MT (USD 22) on 12th Jan’17.
The unchanged prices are as follow – Steel grade (N1) at INR 23,000/MT (USD 338) & Foundry grade at INR 23,500/MT (USD 345) ex-Cuttack, Odisha (East India). Bulk purchase discounts also have been unaltered, Steel grade up to INR 400/MT & Foundry by INR 200/MT.
Market participants added, the company has roll over prices in line with pending export tender which is going to expire on 25 Jan’17 for 15,000-30,000 MT. Also the company’s prime eye is to complete previous bulk bookings which is in pipe-line for Central & North India.
NINL Price Circular click here
Secondary market
In a week duration, Durgapur based manufacturers have reduced prices by INR 1,000/MT due to weak demand and falling Indian billet & global coking coal prices. However, renowned manufacturers in the other markets have maintain offers on the same level.
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