Tata Metaliks has hiked basic grade pig iron prices on encouraging demand along with rise in prices by private mills. Fresh offers for basic grade pig iron (Si 1-1.5%) are reported at INR 41,500/t ($570), up by INR 1,600/t, or 4%, after a reduction of INR 1,400/t announced on 2 Jun’21. However, the company has kept offers stable for foundry grade pig iron at INR 43,600/t, exw, for Jun’21 deliveries to Kolkata and Howrah markets.
- Private mills have raised pig iron prices by INR 2,000-2,200/t, w-o-w, in eastern India on account of a surge in iron ore prices in Odisha.
- Tata Metaliks’s production capacity is 550,000 t/year of hot metal, out of which over 200,000 t/year is converted into ductile iron (DI) pipes and the rest into pig iron.
Leave a Reply