Tata Metaliks, India’s major foundry grade pig iron manufacturer has reduced prices for July 2018 deliveries by INR 800/MT (USD 12). The company has revised prices after a gap of two months, prior to this the last price revision was made in the start of May, in which the prices rose about INR 800/MT.
As per officials, the current prices for high silicon, foundry grade pig iron at INR 33,000/MT (USD 480) which was during May-June 2018 at INR 33,800/MT (USD 492); excluding 18% GST & ex-plant, Kharagpur, East India.
It seems that the company reduced the prices in line with significant fall in steel grade pig iron prices & slump in Indian steel prices.
As per SteelMint assessment, the private producers have reduced pig iron prices by about INR 1,500-2,500/MT (USD 22-36) in last 15 days. Likewise with steel prices – Billet & Rebar prices have also slumped by INR 2,000-3,000/MT (USD 29-44) in the same time.
Tata Metaliks Sales Improved by 46%
The company in its financial results showed improved sales of Pig iron with surge in hot metal production and sale of pig iron reported at 290,902 MT in Fiscal year (FY) 2017-2018, registered an growth of 46% year-on-year.
The company has reported hot metal production at 4,99,540 MT for FY18 as against 3,81,968 MT in FY17 & 4,33,437 MT in FY16. Out of the total hot metal produced in FY18 about 60% metal was cast into pig iron.
As per reports “full availability of the blast furnaces in FY18, helped higher production and sales of pig iron during the year”.
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 plant’s has annual hot metal production capacity of 500,000 tonnes, out of which 200,000 tonnes is converted into Ductile Iron (DI) pipes and 300,000 tonnes into Pig iron.
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