Neelachal Ispat Nigal Limited (NINL) has opened a new price circular to sell concast billet in open market at INR 21,200-21,700/MT, with reduction in offers by upto INR 1,500/MT against offers in last price circular.
In the last price circular, billet offers were in the range of INR 22,600-22,700/MT, with an additional discount of upto INR 300/MT on bulk purchasing. However, in the current price circular, there is no discount on bulk purchase.
Recently on 3 May’16, the company had also reduced its Pig iron offers by INR 400/MT post continuous price rise since Jan’16.
Billet offers by MMTC on behalf of NINL
| Grade | Size | Price (INR/MT) |
| IS:2830:2012 | 150X150 mm | 21,400-21,700 |
| IS:2831:2012 | 150X150 mm | 21,200 |
Prices valid till 31 May’16
Source: SteelMint Research
For more specification and terms please click here
In this month, secondary billet market also weakened due to poor buying interest by rolling mills as construction activities in major consumer states halted amid seasonal water shortage. In this month, billet offers by secondary producers have reduced by INR 500-1,500/MT.
Current offers for 100X100 mm, 125X125 mm billet are evaluated at INR 21,600/MT ex-Raipur, INR 21,000/MT ex-Rourkela/Cuttack, INR 21,700/MT ex-Durgapur and INR 23,500/MT ex-Mumbai.
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