Tata Metaliks, India’s one of the major foundry grade pig iron manufacturer has raised its prices for Sep’18 deliveries after keeping unchanged during Aug’18. The latest price hike is learned about INR 800/MT (USD 11).
An official stated “the price rise is in line with good demand and positive outlook as steel demand to expected to grow further with the end of monsoon season.
Also, the input cost has increased considerably on increasing Iron ore prices and due to the devaluation of Indian rupee which has made imports costlier of coking coal” he added.
The latest offers for high silicon, foundry grade pig iron reported at INR 33,800/MT (USD 478) which was in Aug’18 at INR 33,000/MT (USD 466). The offers are excluding 18% GST & ex-plant, Kharagpur, East India.
Tata Metaliks Limited is a subsidiary of Tata Steel Limited, competing near to 20% of the total Indian foundry grade market size of 1.12 MnT.
The company has an annual hot metal production capacity of 500,000 tonnes, in which production during the FY18 reported at 4,99,540 MT as against 3,81,968 MT in FY17. Out of the total hot metal produced in FY18 about 60% metal was cast into pig iron.
Steel grade Pig iron prices hike by private producers
The private Pig iron producers based in Eastern region have sharply raised prices in line with rising steel prices amid anticipation of further hike prices by NINL, which is the large producer of Steel grade pig iron in India.
The latest offers for steel grade Pig iron in Durgapur, East India hovering at INR 31,300-31,500/MT which was last week hovering at INR 30,500/MT (ex-works & excluding GST), up by about INR 1,000/MT (USD 15), W-o-W.
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