Neelachal Ispat Nigam Ltd (NINL) – India’s largest pig iron manufacturer & exporter has rolled over pig iron prices in line with healthy bookings for domestic & exports, as per market participants.
As per company’s circular the latest offers for Steel (N1) grade at INR 27,900/MT (USD 405) & Foundry (N2) grade at INR 28,500/MT (USD 414); prices are basic, ex-Cuttack, East India. Bulk purchase discounts remained unaltered in the range of INR 100-400/MT.
Market participants believed, the company has maintained prices in line with decent bookings in the last domestic price circular & better response for exports.
As per them, in the last domestic circular more than 40,000 MT pig iron have been booked by domestic mills. Similarly for exports, where a tender get concluded for 30,000 MT at around USD 382-383/MT FoB, in the mid of July.
MMTC’s couple of export tenders live on behalf of NINL
MMTC had floated a export tender of 30,000 MT non-alloy Pig iron on 21st July on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids is on 10th Aug’18.
The company’s another export tender of 15,000 MT Pig iron is going to expire tomorrow i.e. 26th July.
Private pig iron manufacturers maintain offers
The private pig iron producers based in East India – West Bengal & Jharkhand have maintained offers amid average demand with seasonal falling domestic steel prices.
As per SteelMint assessment the current offers for Steel grade hovering at INR 29,000-29,500/MT ex-Durgapur, INR 28,500-29,000/MT ex-Jharkhand – East India & around INR 29,000/MT ex-Raipur, Central India.
Leave a Reply