Neelachal Ispat Nigam Limited (NINL) has further reduced Pig Iron offer by Rs 500/t looking at weak demand in Indian and International market.
This is the second time in August that prices have been reduced. Steel grade is being offered at Rs 24,000/t (Ex-Works Cuttack).
Sources report that discount structure further increases on bulk booking for domestic steel mills.
“Demand has been subdued from domestic and international market and inventory pressure has also accounted for downward trend of price”, they added.
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