Indian Pig iron prices have corrected marginally amid falling steel & Scrap prices in the global market. Current offers are hovering in the range of INR 22,500-23,800/MT (USD 365-385/MT) ex-works.
Participants highlighted despite tight supply of Iron ore in the domestic market, Pig iron prices are falling consistently. This fall was mainly because of declining Scrap prices in the global market, which has direct co-relation with Indian Pig iron prices.
Imported Scrap prices to India have corrected by over USD 20/MT in last 1-month and offered at around USD 335-340/MT CFR India.
Domestic Prices of Steel Grade Pig Iron
|
Place |
Ex-works Price in INR/MT |
W-o-W change |
Remarks |
|
Raipur |
23,800-24,000 |
100-200 |
NECO offers Pig iron at INR 24,000/MT |
|
Raigarh |
23,300 |
Nil |
Currently no offers from Monnet; last trade was at INR 23,300/MT |
|
Durgapur |
22,800-23,000 |
100-200 |
Neo offers at INR 23,000/MT and trade heard at INR 22,800 on bulk purchases |
|
Bokaro |
22,500-22,800 |
Nil |
Electrosteel offers Steel grade at INR 22,800/MT for UP and INR 22,700/MT for Punjab. |
|
Giridih |
22,700 |
Nil |
Atibir Industries keeps price unchanged at INR 22,700/MT |
|
Cuttack |
22,500-23,000 |
Nil |
NINL offers N1 at INR 22,500/MT & N2 at INR 23,000/MT; with additional discounts |
|
Vizag |
23,300 |
Nil |
RINL reduces Pig iron price by INR 800/MT M-o-M to INR 23,300/MT |
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