India: 20,000 MT Pig Iron Booked by Stockiest in NINL's Recent Price Circular
SteelMint in conversation with participants learned that, stockiest in central & northern India have placed regular orders with NINL after recent hike prices by INR 750/MT (USD 12).
Neelachal Ispat (NINL), India's largest producer & exporter of steel grade pig iron has received bookings of close to 20,000 MT steel grade pig iron on revised prices during 26th Apr'19.
SteelMint learned that, about 2 rakes have been booked by Ludhiana based traders & close to 6-8 rakes by Central region based stockiest.
As per stockiest, each rakes carry about 2,200-2,300 MT pig iron, hence close to 20,000 MT material have been booked with NINL, which seems to be regular orders.
NINL has 1.1 MnT hot metal capacity and the company witnessed 111% surge in its hot metal output for the financial year 2019 (FY19). The company's hot metal production of 0.76 MnT is the best since its plant at Duburi in Odisha’s Kalinganagar Industrial Complex commenced commercial operations.
Pig iron production grew by 83.2% to 0.33 MnT, the steel mill's second-best since the date of starting commercial operations.
Private mills offers unaltered
Private pig iron manufacturers & stockiest in Central & Eastern India didn't revise offers post recent price hike by NINL as they already raised their offers. SteelMint learned that, landed cost of NINL pig iron will be equivalent as against prevailing offers by private mills & stockiest.
The offers are more or less firm and hovering at INR 28,200-28,700/MT ex-Jharkhand, INR 28,500-28,800/MT ex-Durgapur, INR 28,200-28,500/MT For Raipur/Raigarh & INR 30,300-30,800/MT FoR Ludhiana; excluding GST.
source: SteelMint
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