After a week’s rise in price of Steel grade Pig iron, market made a correction of INR 200-400/MT. Few maintains their offers; expecting market to be stable for a while, with no great hikes in short term.
Ludhiana based trader told to SteelMint, [su_quote]Prices we are offering is at INR 30,200-30,300/MT (VAT extra). The Mills with marginal stock in hand are purchasing the material, rest who can delay their purchase for a while at the month end are waiting for the reduction of VAT to come into effect.[/su_quote]
A manufacturer based in Raigarh told, the prices of Steel grade are hovering around INR 25,000/MT (basic). According to him, prices steadily went up, seeing the demand and has now corrected by INR 300/MT.
Raipur Pig iron prices remain unchanged at INR 25,500/MT(basic). Manufacturers might raise their offers by INR 200/MT in near future.
Bokaro rise its price by INR 500/MT to INR 24,000/MT (ex-works). NINL is not able to cater demand of Pig iron to the buyers, which is fulfilled by the other plants here.
A trader based in Rourkela shared, [su_quote]The prices and quantity of Pig iron offered by SAIL (Rourkela) had increased the supply in market and made the Pig iron market correct its prices. Currently, prices of Pig iron at INR 23,800/MT (basic).[/su_quote]
Sources told[su_quote]Pig iron market at Chennai is stable at INR 25,500/MT owing to limited production and supply in Southern market. The manufacturers expect improvement in production scale after the clearance of Iron ore mines in Karnataka,[/su_quote]
A trader in Durgapur told, [su_quote]Manufacturers have kept their offers at same level, but are allowing discounts at bulk purchase of around INR 200-300/MT.[/su_quote]
Prices offered in Durgapur is at around INR 24,500- 24,700/MT (basic). Whereas in Giridih, it is being offered at INR 24,200/MT(basic).
Current Steel grade Pig Iron Prices across Indian market
|
Particular |
Price (Basic) |
W-O-W |
|
Bokaro |
24,000 |
+ 500 |
|
Chennai |
25,500 |
0 |
|
Cuttack |
23,500 |
0 |
|
Durgapur |
24,450 |
– 50 |
|
Giridih |
24,200 |
0 |
|
Hyderabad |
24,500 |
0 |
|
Jharsuguda |
23,500 |
0 |
|
*Ludhiana |
30,250 |
– 250 |
|
Mumbai |
25,750 |
0 |
|
Raigarh |
25,000 |
– 300 |
|
Raipur |
25,500 |
0 |
|
Rourkela |
23,800 |
– 400 |
|
Vizag |
24,000 |
0 |
Basic Prices (INR/MT)
Ludhiana: VAT extra
Exports
On 11 Jan, a vessel named CMB Boris was sailed from Paradip port with 31,500 MT of Pig iron by MMTC .
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