NINL has offered Steel grade Pig iron to domestic buyers with a price cut of INR 500/MT.
MMTC, India’s largest international trading company has opened Pig iron prices for the month of March with a discount of INR 500/MT on behalf of NINL.
It is offering N1 grade (with Si content upto 1.24%) at INR 23,500/MT and N2 grade (with Si content 1.25-1.79%) at INR 24,000/MT (Ex-Plant Basis).
The offers are valid till 31 Mar, 2014.
Pig Iron Market corrected by INR 200-500/MT
Secondary Pig iron rates have declined by INR 200-500/MT, with offers expected to be under pressure after mid of March. Holi festival will result to upsurge of stock.
Low sale due to logistic issues in the festival week would built stock pressure on manufacturers and lead to price correction for stock clearance as market reopens after Holi.
[su_quote cite=”A West India based Pig iron manufacturer”]Demand for Foundry grade has comparatively increased from last month as the finished manufacturers are in great need of it to complete their yearly targets.[/su_quote]
Pig iron orders in Raipur market have raised from past couple of days as Bhilai Steel Plant (SAIL), one of the major Pig iron suppliers in Chhattisgarh is not able to cater the material to mini steel furnaces owing to transporter’s union strike. Currently, BSP is offering Steel grade at INR 24,900/MT (basic).
Pig Iron Prices in various Indian Cities as in week 11 (10 Mar- 16 Mar)
|
Place |
Steel Grade |
Place |
Foundry Grade |
|
Chennai |
26,000 |
Chennai |
28,500-29,000 |
|
Ludhiana |
31,000 |
Ludhiana |
32,200 |
|
Raipur |
25,700 |
Raipur |
27,300 |
|
Mumbai |
26,500 |
Mumbai |
28,000 |
|
Durgapur |
24,000 |
Durgapur |
26,500 |
|
Giridih |
23,700 |
Durgapur* |
28,000 |
|
Hyderabad |
25,500 |
Hyderabad |
27,500 |
|
Raigarh |
25,000 |
Koppal |
28,125 |
|
Rourkela |
24,200 |
Goa |
27,500 |
|
Bokaro |
23,500 |
Kolhapur |
29,000 |
|
Vizag |
24,250 |
|
|
Basic Price in INR/MT
Ludhiana: VAT extra
Durgapur: Tata Metaliks
Kolhapur: Including freight
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