India’s largest merchant pig iron supplier and exporter, Neelachal Ispat (NINL) has reduced it’s steel grade pig iron prices by INR 1,000-1,200/MT (USD 15-18) owing to falling billet prices in domestic market.
Notably Indian billet prices have corrected almost INR 1,000-2,000/MT (USD15-30) in last 10 days.
The Company is offering steel grade (N1) pig iron in the range of INR 22,700-22,950/MT (USD 350-355) ex-Cuttack, Odisha.
Company had earlier (in mid April) increased its prices by INR 1,400/MT to INR 23,900/MT (Ex-plant) but failed to get buying interest.
Offers from other private and state owned manufacturers remained low and were assessed at INR 22,500-23,000/MT (Ex-plant).
For NINL price circular click here
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