India’s major pig iron suppliers current week offers remain firm and Market participants feel that booking’s done with NINL in large volume (for domestic & exports) is the key reason for steady prices.
According to the reports, traders actively participated in the last offers offered by NINL and healthy volumes were booked. Similarly for exports, the tenders floated through MMTC on behalf of NINL settled close to USD 380-385/MT FoB.
As per sources, more than 100,000 MT Pig iron has been sold by NINL in a month, including domestic & exports. However, this figure is yet to be confirmed with NINL.
In conversation with private pig iron producers, it has been observed that current demand is subdued over volatile steel prices. As per producers, pig iron stock is not up to the mark and it is understood if NINL will keep prices steady, then private producers offers will continue in the same range.
SteelMint’s price assessment for Steel grade pig iron stood at INR 29,000-29,200/MT (USD 421-424) Ex-Durgapur, INR 29,000-29,300/MT (USD 421-425) Ex-Jharkhand – East India, INR 29,000-29,200/MT (USD 421-424) Ex-Raipur/Raigarh – Central India & INR 31,500-32,000/MT (USD 458-465) FoR Ludhiana – North India.
Steel-grade Pig iron Offers Through Producers
— The suppliers in Raipur, Central India offering pig iron at INR 29,000-29,200/MT FoR basis.
— Jindal Steel is offering Pig iron at INR 29,000/MT Ex-plant, Raigarh & Panther shots (granulated pig iron) at INR 27,500/MT Ex-plant, Odisha.
— Neo Metaliks in Durgapur offers pig iron at INR 29,000-29,200/MT Ex-plant.
— Atibir Industries, one of the major merchant supplier of Pig Iron has offered Steel grade at INR 29,500/MT, the last offers were in the range of INR 29,000-29,500/MT Ex-plant.
— SAIL’s Pig iron offers for Burnpur, East India heard at around INR 28,000-28,200/MT Ex-plant. As per participants, Durgapur based furnaces purchased material.
— NINL’s domestic Pig iron offers were at INR 27,500-27,900/MT for steel grade & INR 28,500/MT for Foundry grade, Ex-plant, Odisha.
— Vizag Steel (RINL) has quoted fresh offers for pig iron at INR 28,500/MT Ex-plant.
— SteelMint’s Pig iron export price assessment stood at USD 380-385/MT FOB Brazil, USD 385-390/MT FOB Black Sea, USD 380-385/MT FOB Brazil & USD 380-385/MT FOB India.
— Coking coal prices drop globally on demand concern from China, last price for Premium HCC grade were assessed at around USD 185-186/MT CNF India.
Leave a Reply