Pig Iron demand is in small quantities and Foundry Grade is not available in most of the places on low production.
“Raipur Pig Iron market witnessed average demand on low supply due to less availability of raw materials. Steel Grade prices at Rs 28,000/MT (Basic) and Foundry Grade at Rs 29,800/MT (Basic) might move down if supply improves,” said a trader.
“Rourkela Steel Grade trades at Rs 26,700/MT (Basic). Nilanchal Ispat has not opened its prices. Though demand is good, production is less due to unavailability of raw material and due to transportation problems, supply is not enough. Prices are expected to rise in the range of Rs 200-300/MT around the next week,” said sources.
“Jharsuguda, Cuttack, Vizag, Goa (Steel Grade) and Giridih in Jharkhand (Steel and Foundry Grade) prices remain unchanged. Prices might stabilize at current levels in Jharsuguda,” said traders.
“Durgapur demand for Steel Grade being traded at Rs 27,300 (Basic), down by Rs 200/MT is weak. Hence, they have to keep their offers low even with increase in input costs.” reported a trader.
“Delhi Steel Grade demand is dipping which is being offered at Rs 32,500 (Including all) with an increase of Rs 500/MT and Scrap prices are high. Foundry Grade prices correct by Rs 200/MT, trades at Rs 35,500/MT (Including all) but as there are few buyers production has come down.”, remarked a manufacturer.
Pig Iron prices have not shown a major change this week. Some places face supply issues also
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