Secondary Pig Iron manufacturers of Steel grade raise prices, owing to slight improved demand of semi-finished and finished products.
Offers move up by INR 200-1,000/MT and Pig iron producers are expected to hold the prices for a week more.
Manufacturers of Central India raised prices looking into the demand for Pig Iron. According to them market has taken good pick up.
A trader from Ludhiana shared, Pig iron prices there stands at INR 30,500/MT for Steel grade with almost a rise of INR 700/MT (including all extra VAT).
A source from Mumbai told that the market was hovering around INR 25,500 – 26,000/MT (ex-plant) for Steel grade Pig iron, with slight improved demand. They are expecting price change only after mid of January.
One of trader from Durgapur told SteelMint, “The demand for Pig Iron is stable, despite Ingot market has improved as per the need of market. But, we don’t see prices rising in case of Pig Iron, owing to the stability seen in finished market. Pig iron prices here are hovering around INR 24,500/MT (basic).”
RINL keeps Offers unchanged
RINL, a state controlled Pig iron (Steel grade) producer and exporter, has decided to maintain domestic prices for Jan 2014, at levels similar to the previous month at INR 24,000/MT. The company is also offering a discount of INR 500/MT for bulk buying, at INR 23,500/MT(ex-works).
Current Steel grade Pig Iron Prices across Indian market
| Places | Prices (Basic) | W-o-W | M-o-M |
| Bokaro | 23,500 | 0 | + 500 |
| Cuttack | 23,500 | 0 | + 500 |
| Durgapur | 24,500 | 0 | + 467 |
| Ludhiana | 30,500 | + 700 | + 700 |
| Mumbai | 25,750 | + 250 | + 250 |
| Raigarh | 25,300 | + 500 | + 1,100 |
| Raipur | 25,500 | + 500 | + 700 |
| Rourkela | 24,200 | + 200 | + 200 |
| Vizag | 24,000 | 0 | 0 |
Basic Prices (INR/MT)
Ludhiana: VAT extra
Tenders
SAIL (Rourkela) opens a tender for offering 17,000 MT of Pig Iron (basic grade) for sale, which expires on 10 Jan, 2014. The delivery period is scheduled on 31 Jan, 2014.
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