Neelachal Ispat Nigam Ltd (NINL), India’s largest pig iron producer heard to have received good response after its recent domestic price reduction by INR 500/MT (USD 7).
NINL on 3rd Jan’19 cuts it domestic prices by INR 500/MT and offered Steel grade at INR 27,400/MT (USD 391/MT) & Foundry (High silicon) grade at INR 28,500/MT (USD 406/MT); ex-Cuttack, East India.
It is understood from trade participants that more than 30,000 MT pig iron have been booked through the stockiest with NINL.
“We are not looking for further significant fall in prices as Inquiries are sufficient from the domestic buyers even though the exports are weak” sources stated.
As per reports in the total sold quantity in current prices, near about 80-85% material has been booked for Central India and remaining for North-east regions
NINL Logs Best Hot Metal Output
The company has logged its best-ever monthly output for hot metal during December 2018.
In Dec’18 alone, NINL rolled out 85,090 MT of hot metal, its highest monthly output ever. Buoyed by the capital repair work on its blast furnace, NINL posted its best ever Q3 production of 0.53 MnT of hot metal. At 0.36 MnT, its half-yearly hot metal output went past the previous highs.
With the growth in production, rolling out of value-added product- steel billets, conversion of part of billets into TMT, wire rods and mining from its captive iron ore asset, the company aims to turn net profit in the next fiscal.
NINL, the country’s leading pig iron producer and exporter, runs a 1.1 MT steel plant at Duburi inside the Kalinganagar industrial complex, touted as Odisha’s steel hub.
Leave a Reply