Steel Authority of India Ltd (SAIL) has received decent response for its 20,000 MT steel grade pig iron offer floated on 5th Dec’19 for sale from Bhilai Steel Plant(BSP), SteelMint learnt from trade participants.
As per sources, nearly 16,000-18,000 MT (80-90%) pig iron have been booked at a base price of INR 24,100/MT ex-plant, in which 30-40% material booked by mills & remaining by traders, who largely supply to Raipur based mills, as cited by sources.
However as per report, there was trade discount of INR 100-300/MT on bulk purchase. Hence on bulk bookings, price is less with the stockist than the bookings made by mills in BSP.
The reason behind good response is learned competitive offers by BSP as another private mill in Raipur heard to have offer steel grade pig iron at around INR 24,300-24,500/MT on ex-plant basis.
Meanwhile the current offers in Raipur through the traders learned at around INR 24,200-24,300/MT on FoR basis.
Inline, offers in other major markets are more or less firm on day trade activities and learned at INR 23,500-23,900/MT ex-Durgapur, INR 23,300-23,500/MT ex-Bokaro, Jharkhand, INR 22,700-22,900/MT ex-Jajpur, Odisha & INR 26,000/MT FoR Ludhiana.
SAIL is India’s major steel producer in terms of capacity which is about 21 MnT per annum.
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