Steel Authority of India Ltd (SAIL), country’s largest steelmaker, offers 75,000 MT Steel grade Pig iron at a discounted price.
SAIL (RSP) has cut offers for steel grade Pig iron to INR 17,500/MT from INR 17,900/MT (base-price), ex-works for the remaining period of May’15. In the beginning of May, the company offered Pig iron at INR 17,900/MT with discount upto INR 500/MT on bulk purchase.
The company is also offering additional discount upto INR 400/MT on purchase of upto 14,000 MT (around 5 rakes). While, RSP in its previous sales (Mar-Apr’15) had offered discounts upto INR 2,000/MT in quantity purchase of upto 14,000 MT (around 4 rakes).
Quantity Discount Table
| Quantity Purchase | Discounts Offered | Offers-by Road | Offers- by Rail |
| Up to 3,499 MT | No discount | 17,500 | 17,600 |
| 3,500 to 6,999 MT | 100 | 17,400 | 17,500 |
| 7,000 to 10,499 MT | 200 | 17,300 | 17,400 |
| 10,500 & 13,999 MT | 300 | 17,200 | 17,300 |
| 14,000 MT & above | 400 | 17,100 | 17,200 |
1 Rake= 3,500 MT
Offered prices in INR/MT
Neelachal Ispat cuts Prices by INR 200-700/MT
Neelachal Ispat Nigam Ltd (NINL), in its recent offers has also slashed prices by INR 200-700/MT. Current offers for steel grade (N1 grade) are at INR 17,500/MT on ex-Cuttack basis with an additional quantity discount of INR 400/MT for purchase of more than 10,500 MT. For N2 grade Pig iron the offers are at INR 17,700/MT levels with discount of upto INR 100/MT on bulk purchase.
Domestic Pig Iron Prices as on 26 May’15
| Delivery Terms | Offers in INR/MT | W-o-W | M-o-M |
| Ex-Cuttack | 17,500 | 0 | -375 |
| Ex-Rourkela | 17,500 | -400 | -600 |
| Ex-Hyderabad | 20,500 | -1,400 | -1,400 |
| Ex-Durgapur | 17,800 | 0 | -1100 |
| Ex-Raigarh | 18,600 | 0 | -950 |
| Ex-Vizag | 19,000 | 0 | -200 |
Source: SteelMint Research
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