The private pig iron producers based in Eastern India, Durgapur have slightly lowered their prices by INR 100-200/MT due to power cuts in Bengal. Meanwhile, in Central & South India the offers remained firm amid average demand-supply scenario.
The latest offers for Steel grade pig iron evaluated at INR 31,000-31,200/MT Ex-Durgapur, Jharkhand (East India), INR 31,400-31,500/MT Ex-Raipur, Raigarh (Central India), INR 31,000/MT Ex-works (West India) & INR 33,000-33,200/MT FoR Ludhiana (North India); excluding GST.
The industry participants are assuming Indian pig iron prices are likely to remain strong on account of rising raw materials & scrap prices and improved export demand.
Trade Log
1. Central region, Raipur based suppliers quoted Steel grade Pig iron at around INR 31,500/MT, which is firm against last week, FoR & excluding GST.
2. Atibir Industries in Jharkhand who’s monthly pig iron production is near about 50,000-60,000 MT has reported fresh offers at around INR 31,500/MT Ex-Plant. However for bulk buyers discount being offered of upto INR 500/MT.
3. Electro Steels in Bokaro (Jharkhand) has slightly lower their prices and the latest deals reported at INR 30,500/MT Ex-plant & INR 31,000/MT FoR Durgapur, excluding GST.
4. Durgapur based Neo Metaliks reported offers for steel grade at around INR 31,200/MT Ex-Plant, however despite poor buying interest due to power cuts the company has maintained offers at same levels.
5. Stockiest in North-India, Ludhiana have raised prices and latest trades reported for Steel grade at INR 33,000/MT & Foundry pig iron at around INR 35,000-35,200/MT FoR & excluding GST.
6. Officials from Jindal Steel mentioned bulk deals at the discount of INR 100-300/MT and offers reported for Steel grade at INR 31,500/MT (ex-Raigarh) & Granulated Pig iron (panther shots) at INR 30,000/MT (ex-Odisha).
7. Western India based one of the largest pig iron producer has offered Steel grade Pig iron at around INR 31,000/MT Ex-plant. As per officials, prices likely to increase further as inventories are less amid good demand.
8. As per sources in South India, currently their is shortage of Pig iron as Vizag Steel (RINL) don’t have major stock for merchant sale also the other private producers in the surrounding have hold sales due to limited availability of material. Vizag Steel’s offers for Steel grade pig iron hover at around INR 30,000/MT ex-plant & excluding GST.
9. Imported met coke offers fell slightly on muted demand in global market in view of the historically high prices. The latest import offers for the 64% CSR met coke are assessed at around USD 394-395/MT as against last week at about USD 399/MT CNF India.
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