Indian Pig iron manufactures have continued their offers at same level. Vizag & Chennai has raised its prices owing to good demand and low stocks.
Chennai offers Foundry grade Pig iron at INR 28,500-29,000/MT (basic); increased by INR 500/MT. Last it was offering at INR 28,000/MT (basic).
“Steel mills are trying to complete their pending orders by the closing of the financial year. This has raised Pig iron demands”, tells a manufacturer based in Chennai.
Here, Steel grades are offered at INR 25,500-26,000/MT (basic).
Raipur’s Pig iron manufacturers offers Foundry grade at same level of INR 27,800/MT revealing that the market demand is stable.
“Market for foundry grade in Durgapur is stable; hovering at INR 26,400-26,800/MT (basic) with manufacturers providing discounts of INR 100-200/MT at bulk purchases”, said a trader at Durgapur.
Tata Metaliks continues to offer Foundry grade at INR 28,000/MT (basic).
“Pig iron offers for Foundry grade in Kolhapur continues to be same at INR 29,500/MT (including freight; ED & VAT extra) with not enough demand in the market”, said a Pig iron manufacturer based in Kolhapur.
RINL
RINL, a state controlled Pig iron (Steel grade) producer & exporter has raised domestic offers for February, 2014 to INR 24,250/MT. A rise by INR 250/MT is observed.
Sources said that they don’t have enough material available now, which made them to raise the price.
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