India’s largest exporter of pig iron – Neelachal Ispat Nigam Limited (NINL) dispatched 40,074 MT of pig iron in Sept’17. Company’s pig iron dispatches have come down 5% M-o-M as it was recorded at 42,259 MT in Aug’17.
Company’s hot metal production in Sept’17 stood at 30,060 MT, down 39% M-o-M and its pig iron production was recorded at 28,256 MT last month. Its pig iron production has fallen by 39% M-o-M as it was 46,201 MT in Aug’17.
The company has stopped offering steel grade pig iron in the market amid blast furnace maintenance and production is expected to be stalled for about 45-60 days.
NINL has not issued any price circular for steel grade pig iron since mid of Sept’17. NINL’s, last price offers in domestic market was at INR 25,000-25,250/MT.
According to provisional customs data maintained with SteelMint, Indian pig iron exports were recorded at 0.28 MnT in FY18 (till Sept’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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