Central India based Pig iron manufacturers have reduced their offers in order to compete with NINL’s prices.
After price cut of INR 1,000/MT by Neelachal Ispat, some big manufacturers have also reduced their prices by INR 600-700/MT.
Jindal Steel based in Raigarh has corrected prices by INR 600-700/MT to INR 18,000/MT ex-plant. In similar line, Jayaswal Neco Industries has also reduced prices by INR 700/MT to INR 18,100/MT ex-Raipur, according to market sources.
East based manufacturers hold offers
Durgapur based Kajaria Steel, Neo Metaliks and Jai Balaji Steel have kept offers unchanged to INR 17,100-17,200/MT. Manufacturers are in wait and watch mode and delivering previous bookings. Fresh offers by these all merchant Pig iron suppliers are likely to be made in the next week.
Atibir Industries, a Jharkhand based manufacturer, mentioned to open new price circular in the coming week. Last offers were assessed at INR 17,500-17,600/MT ex-plant. The plant was under maintenance for last few days but has resumed production now.
Recent tender for 7,000 MT issued by Rourkela Steel Plant (RSP) at a base price of INR 16,700/MT has also received lukewarm response. Sources mentioned that the company managed to sell only 200-300 MT of material.
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