As per SteelMint’s latest price assessment, Indian Pig iron offers find stability which was significantly on down trend earlier. The prices are firm in line with volatility in billet prices and also due to moderate demand & supply, the market participants stated.
The private pig iron producers in Eastern India – West Bengal & Jharkhand also stated, average demand at the current offer prices and have indicated slight price changes in near term till the NINL (Neelachal Ispat) resume their supply in open market.
SteelMint’s latest price assessment for Steel grade Pig iron stood at INR 29,000-29,200/MT ex-Raipur, INR 28,000-28,400/MT ex-Durgapur, INR 28,000-28,200/MT ex-Odisha, INR 27,800-28,000/MT ex-Bokaro, INR 28,300/MT FoR Hyderabad & INR 30,800-31,000/MT FoR Ludhiana. The prices are excluding 18% GST.
Trade Updates:
1. Current week offers in Central India – Raipur are reported at around INR 29,000-29,200/MT which is more or less firm against last week at INR 29,200/MT; ex-plant & excluding GST at 18%.
2. Raigarh based manufacturers have reported fresh purchases for Steel grade pig iron from Odisha at INR 29,000-29,200/MT FoR & excluding GST – Sources.
3. Jindal Steel has reduced offers for Granulated Pig iron (Panther shots) to INR 28,000/MT. In the last month the offers for the same material was heard at around INR 29,000/MT. Both are ex-plant, Angul (Odisha) and excluding 18% GST.
4. Durgapur based Neo Metalics has reported latest offers for steel grade Pig iron at around INR 28,400-28,500/MT & Foundry grade Pig iron at INR 31,600/MT, ex-plant.
5. Tata Metaliks yet to open fresh offers for Apr 2018 deliveries. In the last month (March) the foundry grade material was offered at around INR 32,400/MT.
6. Bokaro, Jharkhand based Electro Steels a private pig iron producer reported fresh offers at INR 27,800/MT ex-plant.
7. Girdih, Jharkhand based a Pig iron producer has kept offers firm amid average inquiries. The steel grade trades are reported at INR 28,000-28,200/MT ex-plant & excluding GST.
8. Ludhiana, North India based trade participants reported few deals concluded from Durgapur (West Bengal) at INR 30,400-30,500/MT on FoR basis & excluding 18% GST.
9. SteelMint’s Pig iron export price assessment stood at USD 385-395/MT FoB India & FoB Black sea, respectively.
10. Coking coal offers continue to decline on rising supply. The latest offer for the Premium HCC is assessed at around USD 212/MT CNF India, decline by USD 15-16/MT, W-o-W.
Steel Grade Pig Iron Prices as on 3rd Apr 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | 1W | 1M |
| Ex-Bokaro | Steel Grade | 28,000 | 27,800 | 28,200 | 28,133 | 29,900 |
| Ex-Cuttack | Steel Grade | 28,000 | 27,800 | 28,200 | 28,300 | 29,450 |
| Ex-Durgapur | Steel Grade | 28,000 | 27,800 | 28,200 | 28,200 | 29,800 |
| Ex-Giridih | Steel Grade | 28,000 | 27,800 | 28,200 | 28,100 | NA |
| Ex-Hyderabad | Steel Grade | 28,000 | 27,800 | 28,200 | 28,000 | 28,300 |
| Ex-Jharsuguda | Steel Grade | 28,200 | 28,000 | 28,400 | 28,600 | 29,350 |
| Ex-Ludhiana | Steel Grade | 31,000 | 30,800 | 31,200 | 30,767 | 31,075 |
| Ex-Raigarh | Steel Grade | 29,000 | 28,900 | 29,100 | 29,233 | 30,600 |
| Ex-Raipur | Steel Grade | 29,100 | 29,000 | 29,200 | 29,433 | 30,925 |
| Ex-Vizag | Steel Grade | 28,300 | 28,100 | 28,500 | 28,300 | 28,300 |
Prices in INR/MT & excluding 18% GST
Source: SteelMint Research
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