Tata Metaliks, India’s one of the largest foundry grade pig iron manufacturer has raised its prices by INR 800/MT (USD 13) w.e.f 12 Dec 2017.
The latest offers are reported at INR 29,000/MT (USD 445) for high silicon, Foundry grade pig iron against last offers of INR 28,200/MT (USD 433). The offers are excluding 18% GST & ex-plant, Kharagpur, East India.
The company has increased offers in line with rise raw material cost on continue surge in coking coal & Iron ore and also due to strong demand with rise in scrap & billet prices.
Tata Metaliks is a subsidiary of Tata Steel, has its manufacturing plant at Kharagpur, West Bengal (East India) which produces the good quality of pig iron & ductile iron pipes. The plant’s annual crude steel production capacity is about 500,000 MT out of which 200,000 MT is converted into Ductile Iron (DI) pipes and 300,000 MT into pig iron.
Tata Metaliks largely sells its pig iron in North India – Punjab & Ludhiana which are the big hub of foundry Industries and also supply material in the local market.
Prices in North India Increase Sharply
With the announcement of price hiked by Tata Metaliks and an Western India based manufacturer, the Foundry grade pig iron offers in Ludhiana (North India) increased to INR 30,000/MT which was last week at around INR 28,500/MT, FoR & excluding 18% GST.
According to the traders in Ludhiana, these pig iron manufacturers are taking limited bookings on increased prices and are looking further gain in prices.
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