MMTC Ltd, India’s largest international trading company, on behalf of NINL, has revised Pig iron prices for domestic takers.

Neelachal Ispat Nigam Limited (NINL) is an Indian Government owned and Nation’s largest Pig iron producer in terms of 0.85 MnT pa installed capacity. After 1.5 month’s time, domestic Pig iron sales has been resumed at prices higher by INR 500/MT. Sales of N3/Foundry grade material remain closed.

NINL’s Pig Iron Prices w.e.f 17 Dec, 2013

Grade         Si%             Price (INR/MT)

N1/Steel     Up to 1.24   23,500 (+500)

N2/Foundry  1.25-1.79    24,000 (+500)

(Basic Prices; Ex NINL Plant basis)

Prices valid till 31 Dec

 According to sources, “Neelachal Ispat has been concentrating on overseas Pig iron sales as realizations from domestic sales continues to stand on the lower side. Presently, the company’s  Pig iron stock position is about 20,000 MT only. In the recent past, NINL has manufactured Pig iron as per requirement only, looking at slow off take of  Pig iron in domestic market. Its Coke production as well as Billet making, has come down too”.