Vizag Steel (RINL), one of India’s largest Pig iron manufacturers and exporters, has kept Pig iron prices unchanged at INR 18,700/MT, ex-Vizag for the month of July’15.
Though the company exported a single shipment of 43,000 MT in past six months and currently received low bids of USD 257/MT FoB Vizag, it seems the company had decided to keep its domestic prices unchanged experiencing sales pressure.
Other primary manufacturers, like NINL & SAIL-RSP, have also kept their prices almost unchanged. Their current offers are at INR 17,400/MT, ex-works with INR 400/MT discount on bulk purchase.
Domestic Pig iron remains stable
Pig iron prices in other markets like Durgapur, Raipur and Raigarh remains stable this week. Pig iron offers at Durgapur are INR 17,000-17,200/MT, ex-plant, whereas Raigarh and Raipur offered at INR 18,000/MT and INR 18,700/MT, ex-plants respectively.
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