Neelachal Ispat increases domestic offers for Pig iron by INR 700-900/MT, for rest of January’16.
Neelachal Ispat Nigam Ltd, one of the largest Pig iron manufacturers in India, has increased offers for Pig iron by INR 700-900/MT. Current offers for N1 grade (Si content below 1.24%) Pig iron are assessed at INR 16,800/MT, ex-Cuttack, (increase by INR 700/MT) with discounts of upto INR 400/MT on bulk purchase and N2 grade (Si content 1.25-2.25%) Pig iron at INR 17,400/MT ex-Cuttack, (increase by INR 900/MT).
Discount Table
| N1 Grade Pig iron Prices | ||
| Quantity | Discount Offered | Offers in INR/MT, ex-Cuttack |
| Upto 500 MT | No discount | 16,800 |
| 500 to 2,000 MT | 150 | 16,650 |
| 2,000 MT to 5,000 MT | 300 | 16,500 |
| Above 5,000 MT | 400 | 16,400 |
| N2 Grade Pig iron Prices | ||
| Any quantity | No discount | 17,400 |
N1 grade quantity available for sale: 20,000 MT approx
N2 grade quantity available for sale: 2,000 MT approx
Offer valid till 1 Feb’16
Production cut and limited availability of Pig iron in central and eastern markets (Odisha) of India for merchant sale, has created room for MMTC (promoter of NINL) to offer Pig iron at an increased price. Participants report, company’s last offerings (material) was completely sold out within few days time.
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