News

India - NINL cuts pig iron price offers.

Issued at 2012-07-17



Neelachal Ispat Nigam Limited, the leading producer and exporter of pig iron, has cut steel grade offers by Rs 400/ton to Rs 25,000/ton (basic) for July 2012. The major factors involved were monsoons and low demand from end users. The devaluation of the rupee, which touched Rs 55.37 levels, has resulted in high prices of input material like coal. At current offers, buying is not encouraging as demand for the material is weakening. Pig iron exports also reduced for some period now. Offers were standing at $475/ton but international buyers are interested at $415-420/ton and therefore not resulting in export deals.


Source: ISMW



Related News