Neelachal Ispat Nigam Limited (NINL) is expected to revise domestic Pig iron prices for the month of June, on the 7th (tomorrow).
If NINL awards the 60,000 tons Pig iron export tender, it might not consider any alteration in its current prices as sales in domestic market has been decent in the month of May.
About 50,000 tons is the current stock position. Offers might either fall or some discount structure might be introduced to clear the stock, provided it is not able to conclude export deals.
NINL's Current Pig Iron Prices:
Grade (Si%) Prices
N1 (Up to 1.24%) 23,000
N2 (1.25 to 1.79%) 23,500
N3 (1.8 to 2.2%) 24,500
Basic prices (Rs/MT), Valid till May 31; Ex NINL plant basis
There are almost no chances of any price rise as they have already been raised by about a thousand, in last one and a half months.
Market would not accept any further hike resulting in drastic fall in demand then.
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