Pig iron prices in the domestic market fall by INR 200-500/MT this week. After witnessing a sudden price rise post to judgment on Odisha Iron ore mining, Pig iron market corrected by INR 500-1,500/MT and still continues.
In Central India, Monnet Ispat is offering Steel grade at around INR 26,000/MT (Ex-Raigarh); down by INR 500/MT W-o-W, whereas manufacturers at Raipur are offering at INR 27,000/MT (basic).
[su_quote]Domestic Pig iron offers are at INR 27,000/MT on Ex-Works Raipur, whereas we are getting offers from Cuttack and Raigarh at around INR 26,500-26,700/MT delivered to our plant. Pig iron offers are still on a higher side looking at fall in Billet & Ingot prices – said a smelter based in Raipur (Chhattisgarh).[/su_quote]
Landed cost for Steel grade Pig iron to Raipur would be around INR 26,500/MT if procured from Cuttack, and from Raigarh it would cost around INR 26,700/MT. Whereas, if the buyer at Raipur purchases Pig iron from local market, it will cost around INR 27,200/MT (delivered to plant).
Offers for Raipur Pig iron is expected to correct soon, as it is around INR 500-700/MT above Cuttack & Raigarh. In fact, Sponge iron here also fell by almost INR 1,500-1,800/MT in last 15 days and is currently offered at INR 21,650/MT with HMS Scrap at around INR 23,800-900/MT, building pressure on Pig iron prices (all are basic prices).
Pig iron prices in eastern India are hovering in the range of INR 24,000-27,000/MT (basic).
Bokaro (Jharkhand) is currently offering Steel grade Pig iron at INR 24,000/MT (Ex-Plant) with a correction of INR 500/MT in a week’s time. Similarly, Durgapur is selling at INR 26,000/MT (basic) with a fall of INR 200-300/MT.
A plant at Giridih is under shut down for a week’s time and is dispatching its old consignments at INR 25,500/MT (basic).
Offers in South has contrarily improved; Chennai is offering Steel grade to market at INR 27,000/MT and Foundry grade at INR 28,000/MT.
Indian Steel Grade Pig Iron Prices
|
Place |
Price in INR/MT |
|
Durgapur |
26,000 |
|
Raipur |
27,000 |
|
Raigarh |
26,000 |
|
Jharsugda |
25,700 |
|
Cuttack |
24,750-25,000 |
|
Rourkela |
25,200 |
|
Chennai |
27,000 |
|
Ludhiana |
31,200-31,700 |
|
Bokaro |
24,000 |
|
Giridih |
25,500 |
Ex-Plant prices
Ludhiana: VAT extra
Leave a Reply