Government of India Ministry of Commerce and Industry. Report of the Indian Tariff Board on the Fair Retention Prices Ex-Works of Pig Iron Bombay 1951

At the time of its last inquiry the Board had been given to understand that the new coke oven battery at the Hirapur Works of the Indian Iron and Steel Company scheduled to go into production in the course of the year 1949 would bring about a definite improvement in the quality of coke and consequent reduction in its consumption thereby lowering the cost of production of pig iron. [...] In ffiture practically all the pig iron manufacturq4 at the Hirapur Works of the Indian Iron and Steel'Company (IISCO) will be 11%611 for steel-making by Steel Corporation of Bengal.1Accordingly the Kulti plant of IISCO should be regarded as the sole regular producer of irons of foundry grade and the price for iron of such grades must be based solely on the costs of prduction at the Kulti Wo [...] The Company while in general agreement with this provision considered it somewhat low at the present time in view of the depleted condition of the relining reserve:-13 (d) Prices of raw materials and stores and rates of wages adopted in the estimates of works costs for the future were established by the Cost Accounts Officer in consultation with the Technical Adviser and with the approval of the [...] In the course of the previous inquiry the Board discussed at length with the representatives of the Indian Iron and Steel Company how the original value of the block at Kulti should be determined. [...] The conclusions of this survey would appear to be corroborated18 by the figures of pig iron sales of the producers during the past three years and also by the acceptance by the foundries of large quantities of off-grade iron even though the use of such iron results in higher production costs.