Tata Metaliks – India’s one of the major producer of Foundry grade pig iron has maintained offers firm for June deliveries after an uptick in prices in the beginning of May by INR 800/MT (USD 12).
The current prices by Tata Metaliks for high silicon (foundry grade) pig iron are assessed at INR 33,800/MT (USD 497) ex-plant, Kharagpur East India.
The company in its financial results showed improved sales of Pig iron with surge in hot metal production and sale of pig iron reported at 290,902 MT in Fiscal year (FY) 2017-2018, registered an growth of 46% year-on-year.
As per reports “full availability of the blast furnaces in FY18, helped higher production and sales of pig iron during the year”.
The company has reported hot metal production at 4,99,540 MT for FY18 as against 3,81,968 MT in FY17 & 4,33,437 MT in FY16. Out of the total hot metal produced in FY18 about 60% metal was cast into pig iron.
With the surge in pig iron sales, company’s turnover from Pig iron segment also climbed to 894 Cr in FY18 than the 560 Cr in FY17, surge near about 60% year-on-year.
Also the report shows, Tata Metaliks competing near to 20% of the total Indian foundry grade market size of 1.12 MnT.
Tata Metaliks Limited is a subsidiary of Tata Steel Limited. The Company is engaged in the manufacture and sale of pig iron and ductile iron pipes. The Company is having its manufacturing plant at Kharagpur in the state of West Bengal.
The plant’s has annual hot metal production capacity of 500,000 tonnes, out of which 200,000 tonnes is converted into Ductile Iron (DI) pipes and 300,000 tonnes into pig iron.
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