Neelachal Ispat (NINL), India’s largest seller of Pig iron in merchant market, makes correction of INR 300/MT for the domestic buyers.
NINL has altered its domestic Pig iron prices in 2nd week of October, which it had rollover on 01 Oct, 2014. Company is currently offering N1 grade (Si 1.24%) at INR 22,200/MT (USD 364/MT) with a price correction of INR 300/MT and N2 grade (Si 1.25-1.79%) without any change at INR 23,000/MT (USD 377/MT) ex-Cuttack. Company is further providing discount of upto INR 400/MT on bulk purchase.
|
Quantity |
Price |
Discount |
|
For lifting of less than 3 rakes |
22,200 |
No discount |
|
For lifting of 3 rakes by rail and /or by road |
22,000 |
200 |
|
For lifting of 6 rakes by rail and /or by road |
21,800 |
400 |
1 Rake=3,500 MT
Basic prices in INR/MT
Poor demand in domestic & global steel market is forcing major companies to prefer for rigorous price correction like this. Company has managed to continue with previous offers for September month, but observing the poor response of market, it has cut down the offer price for the domestic market.
NINL’s Pig Iron Price Revision in last 4 Months
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