IISCO Steel plant, an SAIL’s subsidiary has raised its steel grade Pig iron prices by INR 2,000/MT (8%) for Jan’18 deliveries.
The latest offers are heard at INR 26,500/MT (USD 415/MT) which was at around INR 24,500/MT (USD 383) in Dec 2017. The prices are ex-Burnpur (East region), excluding 18% GST & trade discounts.
During last month, the private producers in the same location have already increased their prices by INR 2,000-2,500/MT to INR 26,500-27,000/MT. However, at the time IISCO steel has kept offers unaltered. Thus, to compete with private producers amid high raw material cost, the company has sharply raised its prices.
If market participants are to be taken in to consideration, the company has successfully conclude deal on increased prices for couple of rakes (equivalent to 7,500 MT) for Howrah based foundries.
The IISCO Steel Plant (ISP) is the full-fledged integrated steel plant and it is one of India’s oldest steel plant. IISCO produced iron from an open-top blast furnace at Burnpur in West Bengal. The plant has crude steel capacity of 2.5 million tonnes per year which produces a range of steel products and supplies to Indian domestic & global market as well.
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