Tata Metaliks, one of India’s major foundry grade pig iron manufacturer has kept its prices unaltered for Aug’18 bookings. Prior to this, the company had cut prices on 2nd Jul’18 by INR 800/MT (USD 12).
The latest offers are reported at INR 33,000/MT (USD 480) for high silicon, foundry grade pig iron which is similar against July’18 deliveries. The offers are excluding 18% GST & ex-plant, Kharagpur, East India.
As per an official, presently demand is supported specifically for North-east regions with average supply movement, hence prices have been rolled over for remaining period.
However it is being heard that, the company’s offer for North region has increased to around INR 34,200/MT which was about INR 33,500-33,700/MT FoR Ludhiana, during mid of July.
Sales boost by 30% in Q1 FY19
Tata Metaliks in it’s quarterly results reported sales increased by 30% & price realisation by 20% in Q1 FY19 as against Q1 FY18, as per press release on 26th Jul’18.
Sales of Pig iron reported at 68,393 MT in Q1 FY19 as compared to 52,752 MT in Q1 FY18, increase about 30%. Similarly, price realization in Pig iron surged by 20% in Q1 FY19 than the Q1 FY18.
As per report, the sales & price realization have increased in line with steady market demand and higher cost of coal and coke.
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