Nilanchal Ispat Nigam Ltd (NINL), one of the largest integrated Iron and Steel plant in Odisha, has lowered offers for coke products formed in its coke ovens for Feb’20.
For sales of LAM coke, NINL has introduced five quantity slabs this term, where highest price of INR 20000/MT was quoted for booking up to 3,000 MT. Bulk booking of LAM Coke above 15,000 MT was offered at a price cut of INR 600/MT, at INR 19400/MT.
The company had lowered the LAM coke prices in the range of INR 700-900/MT across various quantity slabs from the revision carried out in Jan’20.
Price offers for LAM Coke
| Quantity | Price |
| Upto 3,000 MT | 20000 |
| 3,000-6,000 MT | 19900 |
| 6,000-9,000 MT | 19800 |
| 9,000-12,000 MT | 19600 |
| Above 15,000 MT | 19400 |
Prices in INR/MT
Price reduction in case of nut coke was carried out in range of INR 600-1000/MT from the previous revision. Incidentally, Nut coke offers were accessed exactly INR 1000/MT lower than the respective offers for LAM coke seen across various quantity slabs.
Price of nut coke for sale up to 3,000 MT was quoted at INR 19000/MT, while for bulk booking above 10,000 MT, the same was available at a discount of INR 600/MT at INR 18400/MT.
Price offers for Nut Coke
| Quantity | Prices |
| Upto 3000 MT | 19000 |
| 3000-6000 MT | 18900 |
| 6000-9000 MT | 18800 |
| 9000-10000 MT | 18600 |
| Above 10000 MT | 18400 |
Prices in INR/MT
NINL has highlighted that the buyers would have to pay 10% advance along with payment for 1000 MT intended for booking either coke products up to 6000 MT. For purchase above 6000 MT, they have to bear 10% along with payment for 2000 MT. Remaining quantity has to be paid within the validity of price circular.
RINL’s Nut Coke Tender Result
Rashtriya Ispat Nigam Ltd (RINL), the steel producer operating in Vizag, had witnessed decent turn-out for sale of nut coke in its latest auction held on 4 Feb’20.
The company had floated 13,250 MT nut coke via 5 rakes (each rake carrying 2,650 MT quantity) for sale in rail mode of auction, wherein the entire volume was booked by at an impressive bid price of INR 17400/MT. Apparently, bid price in the auction was marked higher by INR 2100-2400/MT from the levels seen in Dec’19.
Comparatively, coke produced by RINL is of slightly lower grade than that of NINL, due to its relatively lower fixed carbon percentage (82% as against 85% of NINL’s nut coke) and high ash content (16% as against 13% of NINL’s nut coke).
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