Govt owned – Steel Authority Of India Limited (SAIL) has increased its pig iron offer by INR 500/MT (USD 7) from its Bhilai Steel Plant (BSP), Central India.
According to market sources report to SteelMint, fresh offers for pig iron (mixed prime) are assessed at INR 24,600/MT EXW-Bhilai, up by INR 500/MT as against floated offers on 5th Dec’19. Meanwhile, the fresh offers also attract trade discount on bulk bookings, as per trade sources.
SteelMint learned that, in the last offers of INR 24,100/MT EXW-Bhilai, the company received decent bookings of around 20,000 MT pig iron. Hence amid strong demand and hike in pig iron offers in other major markets, the producer has raised offers for fresh bookings.
The private producers in eastern India have raised offers on account of tight supply & improved demand following surge in domestic billet prices.
As per assessment, in a week’s duration the prices of steel grade pig iron have surged by INR 400-700/MT and stands at INR 24,500-24,700/MT ex-Durgapur, INR 24,000-24,200/MT ex-Bokaro, Jharkhand & & INR 26,500-26,800/MT FoR Ludhiana.
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