Foundry grade Pig iron prices register rise in the North, but remains positively unchanged in major markets, owing to improved Scrap offers & Steel demands.
Improved Steel demands in domestic market clubbed with raised imported scrap offers to India have kept foundry grade Pig iron manufacturers hopeful.
Prices in major markets for foundry grade remain unchanged at the level of INR 26,500-28,500/MT delivered prices (including ED). Whereas prices in North ran bullish by INR 1,000/MT at INR 27,000-27,500/MT delivered (including ED).
On the same note, a manufacturer based in Western India, who sells its majority of stock to North explained, “Prices in Ludhiana have inched up on the scale as compared to others. It is because the rate at which the prices fell here was higher than others; so is the recovery rate.”
Foundry grade prices in North even touched INR 28,000/MT for a day as a result of stock pooling by major sellers. But the price hike could not sustain for long. The realistic offers are in the range of INR 27,000-27,500/MT, delivered (including ED). One was even heard selling foundry grade Pig iron at INR 26,800-26,900/MT, delivered (including ED).
Domestic Pig Iron Prices as on 21 Apr’15
| Steel Grade Market | Basic Rates | Foundry Grade Market | Delivered Rates# |
| Cuttack | 18,400 | Ludhiana | 27,000-27,500 |
| Durgapur | 19,300-19,500 | Rajkot/Ahmedabad | 28,400-28,500 |
| Raigarh | 19,800 | Mumbai | 29,000 |
| Raipur | 20,300-20,500 | Kohlapur | 28,000 |
| Vizag | 19,300 | Belgaum | 28,000 |
| Giridih | 18,500 | Koppal | 28,000 |
| Ludhiana# | 24,500 | Coimbatore | 26,500-27,000 |
| Pune# | 21,500-22,000 | ||
| Goa# | 20,500 | ||
| Hyderabad# | 21,000 |
#Prices in INR/MT, including excise 12.5%
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