NINL, price setter in the industry, might reduce its Pig Iron price on falling Steel Futures and as demand has not
improved.
“Pig Iron demand is poor at Raipur as sales is weak in finished steel market” remarked a trader.
Another trader reported about sale of Pooled Iron by Bhilai Steel Plant (BSP) which
might reduce price in Jharsuguda.
“Demand is seen to be steady in Rourkela. Though, MS
Ingot prices fell, there is no change in Pig Iron offers”, said
manufacturers.
“For
Steel Grade, demand has not improved whereas unavailability of
Foundry Grade material continues in Durgapur“, said traders.
“In
Giridih (Jharkhand), demand is moderate. Ingot price have reduced and furnaces that were
shut for sometime are expected to start operating in about two to four
days” said sources.
“In Chennai, production is at around 70% which might come down further. Iron Ore prices have not
shown any correction owing to which Pig Iron manufacturers have not been able to reduce their offers. Demand remains poor” report market participants.
“3day
strike by Induction furnaces in Mandi Gobindgarh which began on 15th May to protest the
hike in power rate by private players. Power now costs Rs 6.60/unit which was Rs 5.60/unit, has kept market dull. There has been no
enquiries at all and we anticipate correction in prices in the range of about
300-400/MT in near term”, said a
Delhi based market player.
“Goa witnessed decent demand”, said traders.
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