Indian pig iron manufacturers are not actively seen giving export offers in global market as domestic market has turned more lucrative. Indian manufacturers are eyeing for price levels of USD 390-400/MT, FoB India.
India’s last pig iron export tender for 6,000 MT non-alloy pig iron (specification -C: 3.6-4.3%; Si: up to 1.24%; Mn < 1%, S: 0.05% max; P: 0.2% Max) in Dec’17 was concluded at around USD 355-360/MT, FoB India.
Amid hike in domestic pig iron prices in India on increased production cost, Indian manufacturers have raised domestic prices. Domestic pig iron prices for steel grade in India are assessed as follows: Durgapur (INR 26,300/MT, +1200 M-o-M), Vizag (INR 25,400/MT, +1300 M-o-M) and Bokaro (INR 26,000/MT + INR 1500 M-o-M).
However global pig iron market has remained quiet witnessing limited trade deals. It seems overseas buyers have adopted ‘wait & watch’ approach.
CIS pig iron export price assessment stands at USD 360-365/MT, FoB Black Sea and export offers from Brazil are assessed around USD 355/MT, FoB. Prices have remained unchanged against previous week’s assessment.
Also, global scrap offers have remained majorly stable with few deals being reported. Turkey imported scrap price assessment for HMS (80:20) stands at USD 375/MT, CFR.
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