Pig Iron buyers in the country are considering to source the material from RINL (Rashatriya Ispat Nigam Limited), a state owned producer, as cheapest source.
Market sources told SteelMint that most of the traders have booked good quantities of Pig Iron with RINL as they are getting discounts of up to Rs 800/MT for bookings being placed in large quantities.
“At present, RINL is offering Pig Iron at quite low prices. Current offers stand at Rs 22,700/MT ($410/MT Ex-Works Vizag) for booking 15,000 tonnes. Besides this, retail offers are at Rs 23,500/MT ($427/MT)”, said a trader.
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