The Indian private pig iron producers have raised their offers by around INR 500-1,000/MT (USD 8) in last 5-7 days. The manufacturers claimed that, rising coking coal and billet prices are the major factors behind the strengthening pig iron prices.
Notably, the prices of coking coal which is the key fuel for making pig iron has increased to USD 235-237/MT, FoB Australia, which was in Nov’17 at USD 180-190/MT, surged around USD 50/MT against last month.
Further, the domestic billet offers have increased about INR 1,000-1,500/MT (USD 15-23) in a week & INR 2,500-3,000/MT (USD 38-46) in a month duration.
Trade Log
1. Price assessment for steel grade pig iron in Central India-Raipur increase about INR 500/MT to INR 25,700-26,000/MT.
2. Durgapur based Neo Metalics has offered steel grade Pig iron at INR 26,000/MT against last week at INR 25,500-25,700/MT. According to the officials deals had concluded on price hike.
3. Jindal Steel has offered Ferroshots (Panther shots) an key sustitute of Pig iron at INR 23,700/MT ex-plant, Angul, Odisha. According to the officials deals are majorly for Raipur & local market, freight to Raipur at INR 1,100-1,200/MT.
4. Bokaro based Electro Steels an private producer reported fresh offers at INR 25,800/MT which was last week traded at INR 25,300-25,500/MT, FoR (landed) Durgapur.
5. NINL’s domestic Pig iron circular for Steel (N1) grade pig iron of INR 24,300/MT ex-plant is expiring tomorrow i.e. 16th Dec 2017.
6. Bhushan Power & Steel is offering Pig iron steel grade at INR 24,500-24,700/MT ex-plant (Odisha), during the same day last week the offers were at around INR 24,200/MT.
7. Trade participants in North India – Ludhiana reported healthy availbility of Steel grade pig iron of Neelachal Ispat & SAIL’s material at INR 27,300-27,500/MT FoR & excluding 18% GST.
8. Global Coking coal prices continue to surge on limited supply, the last offers were reported at USD 235-237/MT FoB Australia for Premium HCC.
9. SteelMint’s pig iron export price assessment stood at close to USD 350/MT against last week at USD 340-345/MT; FoB India.
10. Indian bulk pig iron exports increased by about 350% in 2017 (Jan-Nov). Indian exported about 530,000 MT pig iron during Jan-Nov 2017, which was 120,000 MT in the same preceding 2016.
11. According to Vessel line up data maintained by SteelMint stats, an Pig iron export Vessel recorded of Vedanta Resources from Murmugao port of around 30,000 MT.
12. Indian Pig iron sale-able production recorded at 6.147 MnT during Jan-Nov’17, declined by 1.6% against same preceding last year at 6.245 MnT, the provisional released data by JPC (Govt of India) reported.
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