Indian Pig Iron prices
remained stable on thin volume. Market waits for further direction.
“Raipur Pig Iron
prices trading at Rs 28,000-100/MT (Basic price) for Steel Grade and Rs
29,800/MT (Basic price) for Foundry Grade have increased by Rs 200/MT and Rs
300/MT respectively,” quoted a Raipur based trader.
“Rourkela Steel Grade Pig Iron is being offered by Rs 100/MT
more at Rs 26,800/MT (Basic price). Demand is expected to improve in a day or
two as bookings have started,” remarked a manufacturer in Rourkela.
“Jharsugda Steel Grade Pig Iron is quoted by Rs 100/MT more at Rs
26,300/MT (Basic price). Trading volumes have been low and Foundry Grade is out of stock,”
said a Jharsugda Pig Iron manufacturer.
“Durgapur Pig Iron demand is weak and Steel Grade prices have
corrected by Rs 300/MT whereas Foundry Grade prices have improved by Rs 300/MT.
Prices are unexpected to go down further in Steel Grade which trades at Rs
27,500/MT (Basic price) while Foundry at Rs 29,300-400/MT (Basic price),” quoted
a trader in Durgapur.
“Giridih (Jharkhand) Pig Iron demand is average and trading prices
at Rs 26,300/MT (Basic price) are expected to remain stable in near term,” said
a Giridih based trader.
“Delhi Steel Grade Pig Iron trading at Rs 32,000/MT
(Including all) is anticipated to show an uptrend on account of higher scrap
prices and improved dollar. Demand is stable and Foundry Grade is being quoted
at Rs 35,700/MT (Including all),” said sources.
Prices are likely to remain stable on expensive raw material, rising scrap prices and weakening rupee against dollar.
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