NINL (Neelachal Ispat Nigam Ltd) increases pig iron price by INR 1,400/MT (USD 22)
India’s largest merchant pig iron supplier and exporter, NINL has increased its domestic prices by INR 1,400/MT for both Steel & foundry grade Pig iron.
Current offers for Steel grade (N1) material are at INR 23,900/MT (USD 370) & Foundry grade at INR 24,150/MT (USD 375) ex-Cuttack, Odisha (East India).
The company is also offering discount on bulk purchases for Steel grade up to INR 400/MT & Foundry grade by INR 100/MT.
According to sources, prices have increased in line with high cost of production and possible shutdown for regular maintenance.
For NINL price circular click here
Recently, the company has also re-issued pig iron export tender of 30,000 MT, which will expire on 12 May’17. Earlier it had been cancelled on account of lower bids received. Company had received bids from two participants at a price level of USD 295-300/MT FOB India east coast.
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