India: NINL Revise Coke Sales Price for Dec’19

Nilanchal Ispat Nigam Ltd (NINL), one of the largest integrated Iron and steel plant in Odisha, has revised the prices of Low Ash Metallurgical Coke (LAM coke) and Nut coke produced from its coke ovens.

Amid a deteriorating coke market, the company had made a hefty price cut in its previous revision for LAM coke. However, this term NINL has rolled over the same price for the starting 4 quantity slabs which concerns sales up to 10,000 MT.

Incidentally, for the fifth slab pertaining to bulk booking above 10,000 MT, the company had lowered the price by INR 300/MT, probably to incite higher buying.

Price Slab for LAM Coke and Nut Coke Sales

Prices in INR/MT

NINL had decided to invoke same price range across 5 applicable quantity slabs for sales of Nut coke as well.

Apparently, the last price revision for Nut coke was carried on 16 Oct’19, wherein the company had quoted pricing only in two quantity slabs, i.e. price of INR 20,020/MT was fixed for sales up to 2,000 MT, whereas for bulk booking above 2000 MT price was affixed at INR 19,800/MT.

The recent alteration has also brought down Nut coke prices to significant lower level in comparison with the previous revision.

NINL’s both grades of coke hold a similarity in specification having a fixed carbon of 85%, besides, attributing same percentage of Ash (13%), volatile matter (1%), and CSR (65%). However, they both differ in size, while Nut coke is offered for a size range of 10-25 mm, prescribed size for LAM coke has been set at 25-80 mm.

The company has specified that the buyer would have to pay 10% advance along with initial payment for 1,000 MT in case of booking up to 5,000 MT for both LAM coke and Nut coke purchase. While for booking above 5,000 MT, the buyer would have to bear 10% advance along with payment for 2,000 MT. Remaining payment is to paid within validity of the price circular which was marked 17 Dec’19.