Pig iron market has remained dull even this week; expecting to boost after second week of April.
It’s just a week before financial year-end and the manufacturers are trying hard to clear their inventory by giving discounts.
Even NINL, the chief Pig iron manufacturer and exporter, corrected its offers by INR 500/MT letting others to follow the suit. In the same queue, over all manufacturers have also reduced their offers up to INR 500/MT.
[su_quote cite=”A Foundry grade manufacturer at Kolhapur“]Currently, market is dull and at this point, it’s difficult to predict where the market would head. Sentiment of the market may be clear only after the mid of April.[/su_quote]
Stock pressure added with lucrative import offers of Scrap coming down to Mumbai are also forcing the Pig iron manufacturer of Mumbai to offer at discounts. Currently, discount varies in the range of INR 200-500/MT.
Prices reduction was also being witnessed in Central India owing to sluggish demand with rest Pig iron market unchanged.
Domestic Pig Iron Prices
|
Place |
Steel Grade |
Place |
Foundry Grade |
|
Chennai |
26,000 |
Chennai |
28,500-29,000 |
|
Ludhiana |
30,300-30,400 |
Ludhiana |
32,100-32,200 |
|
Raipur |
25,500 |
Raipur |
27,300 |
|
Mumbai |
26,250 |
Mumbai |
27,500 |
|
Durgapur |
23,800-24,000 |
Durgapur |
26,600 |
|
Giridih |
23,700 |
Durgapur* |
28,000 |
|
Hyderabad |
25,500 |
Hyderabad |
27,500 |
|
Raigarh |
24,700 |
Koppal |
28,125 |
|
Rourkela |
24,200 |
Goa |
27,500 |
|
Bokaro |
23,000 |
Kolhapur |
29,000 |
|
Vizag |
24,250 |
Basic Price in INR/MT
Ldh: VAT extra
Kol: Incl freight only
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