India’s largest exporter of pig iron – Neelachal Ispat Nigam Limited (NINL) dispatched 42,259 MT of pig iron in Aug’17. Company’s pig iron dispatches have come down 41% M-o-M as it was recorded at 71,297 MT in Jul’17.
Company’s hot metal production in Aug’17 stood at 49,150 MT and its pig iron production was recorded at 46,201 MT last month.
NINL had raised pig iron prices twice in Aug’17. Last offers were reported for Steel (N1) grade at INR 24,000-24,250/MT ex-mill.
The company has exhibited growth in terms of both production as well as dispatches in current fiscal. During Q1 FY18, NINL produced 171,550 MT hot metal, up by 8.3% against the same period last fiscal i.e Q1 FY17.
NINL pig iron sales were recorded at 504,234 MT in FY17.
According to provisional customs data maintained with SteelMint, Indian pig iron exports were recorded at 0.28 MnT in FY18 (till Aug’17), out which share of NINL was nearly 57%.
NINL – promoted by MMTC Ltd, Industrial Promotion & Investment Corporation of Odisha Ltd (IPICOL), Odisha Mining Corporation (OMC) and other government agencies – has set up an 1.1 MnT of integrated iron and steel plant at Kalinganagar, Odisha. It is the country’s largest exporter of pig iron since 2004.
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