Vizag Steel, one of the largest Pig iron producer in South India, has kept its prices unchanged for Dec’16 deliveries. The company offers for Dec’16 are at 21,900/MT (US$ 320) ex-works. However, in the beginning of Nov’16 Vizag Steel had increase prices by INR 200/MT (US$ 3).
Moreover, the company is also offering discount on purchase of above 5,000 MT, according to sources. A official from the Vizag Steel (RINL) has mentioned, that there are plans for export tender in current month.
During Nov’16, NINL has concluded a export tender of 30,000 MT at US$ 275/MT FOB Paradip port. The company has also floated an export tender for 30,000 MT steel grade Pig iron which will expire on 02 Dec’16.
Market sources reported that, there are less buying in the domestic market due to falling Ingot/billet production. Thus, the large producers are eyeing to export material on bulk quantities.
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