According to Mining News Pro -Neelachal Ispat Nigam Ltd (NINL) - India’s largest and state owned Pig iron manufacturer has recently floated offers for High Silicon (Foundry grade) pig iron, which seem competitive than the offers through the other major foundry grade pig iron makers based in east & western India.
As per NINL price circular the company is offering high silicon (2% to 5%), Foundry Pig iron at INR 29,900/MT (USD 408).
Also the producer has offer N2 grade Pig iron at INR 29,400/MT (USD 400) in which the silicon proportion is about 1.25% to 2.25%. All offers are excluding GST, ex-plant Cuttack, East India.
In context to offers through the other major Foundry Pig iron producers, TATA Metaliks is offering Foundry (high silicon) Pig iron at around INR 33,800/MT (USD 461) ex-plant, Kharagapur, East India.
Meanwhile a major Goa (Western India) based pig iron producer heard to have offer Foundry (high silicon) pig iron at close to INR 34,000-34,500/MT (USD 463-470) ex-plant, Goa.
The traders in North region are offering Foundry grade Pig iron at the range of INR 35,000-35,500/MT (USD 477-484) FoR Ludhiana & excluding GST.
Specifications of NINL Pig iron
| Pigiron | Si | Mn | S | P | C | PriceinINR/MT |
| N2Grade | 1.25%to2.25% | <1% | 0.05%Max | 0.20%Max | 3.6%to4.3% | 29,400 |
| HighSilicon | 2%to5% | <1.0% | 0.05%Max | 0.25%Max | 3.6%to4.3% | 29,500 |
*Prices are ex-works & excluding GST
NINL Reduced Steel grade Pig Iron Prices
Prior to this on 23 Oct`18, NINL has reduced prices of Steel grade Pig iron by INR 1,300/MT to INR 28,500-28,900/MT (USD 388-394), ex-plant Cuttack, East India.
If trade participants are to be believed, the company didn`t have significant stock of material due to some production disturbance at its blast furnace due to which material availability is less.