Neelachal Ispat for the 3rd time this month has revised domestic Pig iron offer with price correction of INR 500/MT.
Currently, NINL is offering N1 grade (Si 1.24%) at INR 22,900/MT and N2 grade (Si 1.25- 1.79%) at INR 23,100/MT (ex-Cuttack).
Significance of this price circular is, now the company has withdrawn all type of quantity discount, which it use to offer. Previously, the company had offered additional discount of upto INR 500/MT (USD 8/MT) on bulk purchases.
Revision of Domestic Pig Iron Prices in August, 2014
|
Date of Price Circular |
N-1 grade |
N-2 grade |
Price correction |
|
08 Aug’14 |
23,600 |
23,800 |
-500 |
|
13 Aug’14 |
23,400 |
23,600 |
-200 |
|
25 Aug’14 |
22,900 |
23,100 |
-500 |
Offers valid till 5 Sep, 2014
Market participant mentioned, “Market is so bearish that even on previous discounted offers, rake lifting was not satisfactory, as per the expectation. This time the company has offered single price for all with no quantity discounts.”
Neelachal Ispat is India’s largest producer & exporter of Pig iron located at Duburi, Jajpur (Odisha).
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