India: NINL’s Pig Iron Offers surges by INR 500/MT

MMTC, India’s largest international trading company has opened Pig iron prices for domestic buyer with an upsurge of INR 500/MT on behalf of NINL.

Neelachal Ispat Nigam Limited (NINL), an Indian government-owned and nation’s largest Pig iron producer in terms of installed capacity, has resumed domestic Pig iron sales of N-1/ Steel grade after one and half month with a rise of INR 500/MT. Grade contains Si up to 1.24%, offered at INR 24,000/MT (Ex works Cuttack).

N-2 grade price was revised on 23 Jan, 2014 with rise by INR 500/MT and offered at INR 24,500/MT (Ex- plant), whereas sale of N-3/Foundry grade material remain closed.

NINL’s Pig Iron Prices

(Basic Prices)
Prices valid till 15 Feb, 2014

[su_quote]Source said, “NINL is raising its prices by witnessing the demand in market and also to overcome the burden of high production cost. Fluctuation in prices are usually witnessed in the month of Feb- Mar due to financial year ending.”[/su_quote]