Company cuts prices after two months.
Tata Metaliks, one of the largest foundry grade Pig iron manufacturers in India, has reduced prices by INR 1,000/MT. Current offers are at INR 23,000/MT, ex-works, Kharagpur (West Bengal). This price cut has been made after two months time. Prices were last revised in the month of April.
North India, which is the highly traded market for foundry grade, is getting offers in the range of INR 24,700-24,900/MT, delivered (including ED) from various sellers. Another manufacturer also confirmed to have sold foundry grade Pig iron at INR 24,900/MT (including ED) delivered Ludhiana for bulk quantity.
Currently, some foundry manufacturers are preferring low silicon Pig iron, which is not only equivalent to, but also cheaper than foundry grade.
Offers for 2-2.5% silicon content Pig iron (foundry grade) are at INR 22,500-23,000/MT (ex- Durgapur), whereas 1.5-2% silicon content Pig iron (low silicon grade) offers are at INR 20,000-20,500/MT (ex- Durgapur).
Foundry grade prices as on 4 Jun’15
| Particulars | Offers in INR/MT | M-o-M Change | 3 Months Change |
| Tata Metaliks (Basic) | 23,000 | – 1,000 | -1,250 |
| Ex-Durgapur (Basic) | 22,500 | – 300 | -650 |
| Ex-Ludhiana (Including ED) | 24,700-900 | -1,400 | -1,950 |
Source: SteelMint Research
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