Steel grade pig iron prices increased slightly in Central & East regions by INR 200-400/MT (USD 3-6) amid surge Billet prices and with anticipation of hike in pig iron prices by NINL.
NINL’s (Neelachal Ispat) domestic prices are due since 3-4 days.
— Neo Metaliks, a merchant pig iron supplier in West Bengal, East India has raised prices to INR 29,300-29,400/MT as against last trades at around INR 29,000-29,200/MT; ex-plant & excluding GST.
— Atibir Industries, a major manufacturer of steel grade pig iron in Giridih, Jharkhand has also raised prices to INR 29,500/MT than the same time in last week at INR 29,000-29,500/MT ex-plant & excluding GST.
— Market participants are assuming NINL likely to roll over or slightly raise its fresh prices due to healthy bookings for domestic & exports.
The suppliers in Central India, Raipur & Raigarh being hike prices by about INR 300/MT and the reason behind the price rise mentioned, tight supply from Odisha, anticipated rise prices by NINL and sharp surge in billet prices.
— Offers through the traders assessed at INR 29,200-29,400/MT FoR Raipur & INR 29,200-29,300/MT FoR Raigarh.
— Jindal Steel has rallied its offer by INR 500/MT to INR 29,500/MT Ex-plant, Raigarh for Steel grade pig iron. Prices for panther shots (granulated pig iron) being raised to INR 28,000/MT from earlier about INR 27,500/MT Ex-plant, Angul Odisha.
Stockiest based in North India- Ludhiana has stated tight supply due to logistic issue from East & Western regions and likewise there is significant rise in Billet prices this has supported local scrap market and indirect demand for pig iron.
— The current offer for Steel grade reported at INR 31,600-31,800/MT & Foundry grade at INR 34,500-34,700/MT FoR Ludhiana & excluding GST.
— As per stockiest in Ludhiana, recent a rake of Foundry grade pig iron booked of Tata Metaliks at an average price of INR 34,000-34,200/MT FoR & excluding GST.
— They also mentioned bookings of near about 4 rakes of steel grade Pig iron with Neelachal Ispat (NINL) in recent price circular of INR 27,500-27,900/MT ex-plant, Odisha. On FoR basis, this material would cost about INR 31,300-31,500/MT FoR Ludhiana & excluding GST.
Steel grade Pig iron Prices as on 10th Aug’18
| Particular/Delivery | Prices | Min | Max | 1W | 1M |
| Ex-Bokaro | 28,800 | 28,500 | 29,000 | 28,800 | 28,800 |
| Ex-Cuttack | 27,700 | 27,500 | 27,900 | 27,700 | 27,700 |
| Ex-Durgapur | 29,200 | 29,000 | 29,500 | 29,000 | 29,200 |
| Ex-Giridih | 29,200 | 29,000 | 29,500 | 29,000 | 28,800 |
| Ex-Hyderabad | 28,800 | 28,700 | 29,000 | NA | 29,800 |
| Ex-Jharsuguda | 28,200 | 28,100 | 28,300 | 27,700 | 27,700 |
| Ex-Ludhiana | 31,600 | 31,400 | 31,800 | 31,700 | 31,300 |
| Ex-Raigarh | 29,200 | 29,000 | 29,400 | 29,000 | 29,100 |
| Ex-Raipur | 29,300 | 29,200 | 29,400 | 29,100 | 29,100 |
| Ex-Vizag | 28,300 | 28,100 | 28,500 | 28,300 | 29,300 |
Prices in INR/MT, ex-works & excluding GST @ 18%
Source: SteelMint Research
Leave a Reply