India’s largest and state owned merchant pig iron manufacturer ,NINL has increased its domestic pig iron prices by INR 500/MT for both Steel & foundry grade Pig iron.
Current offers for Steel grade (N1) material is at INR 22,100/MT (USD 331) & Foundry grade at INR 22,600/MT (USD 339) ex-Cuttack, Odisha (East India). The company is also offering discount on bulk purchase for Steel grade up to INR 400/MT & Foundry by INR 200/MT.
Prices have been increased on backdrop of strong export orders. Notably, 63, 000 MT pig iron has been booked by NINL, in last two month.
NINL has an installed capacity of 800,000 MT pig iron.
Indian pig iron exports have increased significantly in the 2017 due to rising scrap prices in global market . About 85,000 MT pig iron has been exported in 2017 (till Feb).
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