Neelanchal Ispat Nigam Ltd (NINL), state owned and India's largest merchant pig iron exporter have raised its pig iron prices by Rs 500 per tonne effective from 12th April 2013.
Current offers for steel grade pig iron stands at Rs 22500/t (N1 grade) and Rs 23,000/MT (N2 grade) Ex-plant basis.
Foundry grade material (N3) is at Rs 24,000/MT.
“Recently NINL had cut down its prices by Rs 500 on 8th April 2013, since then bookings have improved drastically and NINL had decided to raise its prices by Rs 500/t”, said a pig iron user based in eastern state.
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