RINL, a state controlled Pig iron (Steel grade) producer and exporter, has decided to maintain domestic prices for Dec 2013, at levels similar to the previous month.
The company’s Pig iron offers remained unchanged at INR 24,000 (ex-works) in Q3 FY14 (Oct-Dec), with discount of INR 500/MT on buying of two rakes. For sales in Dec 2013, RINL’s stock position is low and it has a domestic sales target of 10,000 MT and 30,000 MT for exports.
Indian Pig iron offers remain stable as demand has not been very encouraging. Semi finished and finished steel offers witnessed a downward trend by INR 500-600/MT in the last one week.
Source: SteelMint
“There isn’t much excitement in market and demand is slow. Sales is ok because of limited buying from automobile sector (except tractors) which is not performing well, castings, pumps and general engineering. Prices are expected to pick up in the beginning of January”, said a senior official at one of the large Pig iron producing plant.
CIS Pig Iron Offers Stable
Pig iron prices in Ukraine remain constant in the range of USD 380-390/MT FoB Black Sea amid limited buying activity. It has been heard that a 55,000 MT Pig iron was booked in the month of December, at a price of USD 383/MT FoB.
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