Currently, Indian Pig iron market remain static with low transaction.
Pig iron prices continue to be unchanged at some places, whereas other manufacturers corrected their prices seeing dull demand and discounts offered by the major Pig iron manufacturers. Another major factor that kept prices under pressure is cheaper Scrap imports from Europe; at around USD 360/MT CFR India.
Pig iron manufacturers at Bokaro corrected prices by INR 500/MT to about INR 23,500/MT (basic).
A source from Bokaro told, “NINL has released a corrigendum for INR 200-400/ MT discount at bulk purchase on its previous offers (INR 24,000/MT basic). This has made other manufacturers to reduce their prices.”
Rourkela manufacturers are also experiencing dull demand in Pig iron market. Pig iron manufacturers have corrected their prices by INR 200/MT and offering at INR 24,300/MT (basic).
Durgapur & Giridih also spells the Pig iron market to be dull and offers for Steel grade are maintained at same level of INR 24,500/MT (basic) and INR 24,400/MT (basic) respectively. Prices for Foundry grade at Durgapur also remained unchanged at around INR 26,500-26,700/MT (basic) with Tata metaliks at INR 28,000/MT (basic).
Raigarh raises its offers by INR 200/MT and has settled the orders at INR 25,600/MT (basic)
Prices at Ludhiana raised by INR 400-500/MT. Traders are currently offering Steel grade at INR 30,600-30,700/MT (VAT extra), whereas prices for Foundry grade remains unchanged at INR 32,200-32,300/MT (VAT extra).
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