India's Largest Pig Iron Manufacturer Further Cuts Price Upto INR 600/MT (USD 9)
Neelachal Ispat Nigam Ltd (NINL)- India’s largest and state owned steel grade pig iron manufacturer & exporter has further reduced pig iron prices by INR 500-600/MT (USD 7-9) after a slight reduction made in Nov'18 end by INR 400/MT (USD 6).
The latest offers by the company floated for Steel grade at INR 27,900/MT (USD 393), N2 grade at INR 28,500/MT (USD 402) & Foundry (High silicon) grade at INR 29,000/MT (USD 409); prices are basic, ex-Cuttack, East India.
Meanwhile, the company has rolled over bulk purchase discount on steel grade pig iron at INR 100-400/MT.
Market sources believe amid limited domestic demand on weakening steel market, the company has slashed prices with an expectation to fetch healthy bookings.
Also as per sources, the company's recently floated 30,000 MT did not attract very aggressive response over competitive offers from CIS nations and Brazil. However no official confirmation regarding the pig iron export tender was received till the time of publishing this report. Global pig iron prices have come under pressure on falling global scrap prices.
source: SteelMint
Top News
Five last month
Two last year
Mali threatens to let Barrick mine permit lapse over dispute
China will hit peak copper around 2030, industry group says
Codelco suspends operations at copper refinery after worker’s death
Biden administration approves ioneer’s Nevada lithium mine
Could seaweed farms become the next generation of mines?
Gold price scales $2,800 amid US election uncertainty
El-Erian says soaring gold is driven by dollar diversification
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Gold price scales $2,800 amid US election uncertainty
Nornickel raises 2024 production guidance for all metals
CHART: Copper price is being held hostage by Beijing
Nornickel raises 2024 production guidance for all metals
El-Erian says soaring gold is driven by dollar diversification
Gold stocks’ secular breakout
China will hit peak copper around 2030, industry group says
Mali threatens to let Barrick mine permit lapse over dispute
China will hit peak copper around 2030, industry group says
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Gold price scales $2,800 amid US election uncertainty
CHART: Copper price is being held hostage by Beijing
El-Erian says soaring gold is driven by dollar diversification
Gold stocks’ secular breakout
Mali threatens to let Barrick mine permit lapse over dispute
Millennial mining heirs bet the family business on Argentine copper