Today, NINL has declared fresh offers for Oct’16 deliveries with a slight price rise of INR 200/MT (USD 3)
Post price rise, the company’s steel grade offers are reached at INR 20,900/MT. The manufacturer is also offering a discount of INR 200/MT on purchase of more than 2,000 MT of Pig iron. In the last month the plant had increased its prices by around INR 3,500/MT.
According to reputed traders, offers moving up on the grounds of limited availability of material amid rapid price rise of Coking coal. Current prices have hit 21-month high level. The same prices were seen in Jan’15.
It is anticipated that, recent price hike by NINL may not impact offers of secondary pig iron manufacturers. Pig iron prices of secondary market are likely to remain firm.
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