Steel Authority of India Ltd (SAIL) – state owned Indian steel maker conducted auction on 2nd Feb’19 for sale about 10,000 MT Steel grade Pig iron from its Rourkela Steel plant (RSP) in eastern India.
In the auction held on Saturday, the producer has cuts base prices by INR 400/MT (USD 6) to INR 26,800/MT against last price of INR 27,200/MT in 19th Jan’19 auction.
As per sources, the company had offered about 10,000 MT Pig iron, out of which about 6,600 MT was sold out at the base price of INR 26,800/MT, while remaining about 34% (3,400 MT) material remain unsold.
The auction has received average response as in the last auction the company were received weak response & 72% material remained unsold due to competitive/cheaper offers through the private – local producers.
As per SteelMint assessment the latest offers for Steel grade Pig iron is hovering at INR 27,000-27,300/MT ex-Durgapur at West Bengal, INR 26,800-27,200/MT ex-Jharkhand, INR 27,800-30,000/MT ex-Raipur & for Vizag/Hyderabad are reported INR 29,500-30,000/MT.
SAIL is India’s largest steel producer in terms of capacity with an annual installed capacity of about 21 MnT followed by JSW Steel at 18 MnT, as on financial year 2017-2018.
— MMTC cancels 30,000 MT Pig iron export tender amid limited response. The company has issued new export tender which is due to expire on 12 Feb’19.
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