Despite weak trades, pig iron prices gain momentum in Raipur & Durgapur by INR 300/MT & INR 600/MT W-o-W, respectively. Prices surge as supply is less due to limited production and increase export deals.
Current offers are assessed at INR 21,300-21,500/MT ex-Raipur & INR 21,500/MT in Durgapur. However, in the other markets it stood at INR 21,000/MT Ex-Giridih & INR 21,500/MT FOR Hyderabad.
The plants who has recent halted operations or providing pig iron in limited quantity, those are – Concast Ispat (Jharsugda), MSP Steel (Raigarh), Mesco Steel (Jajpur), Tata Steels (Kharagpur), Adhunik Metaliks (Odisha), Monnet Ispat (Raigarh), Jai Balaji Steels and Kajaria Iron Company (KIC) in Durgapur.
The respected company’s supply material mostly to North, East & in Central India.
Highlights
1. Jindal Steel’s offers at INR 20,700/MT ex-plant, Raigarh; quantity discount upto INR 200/MT.
3. In Raipur, Jayaswal Neco Industries Ltd is offering steel grade at INR 21,300/MT ex-plant.
4. Trade sources in Durgapur reported, steel grade offers by Neo Metaliks at INR 21,500/MT & Foundry at INR 24,500/MT.
5. Offers increased in Ludhiana due to transportation issue; Steel grade is at INR 26,500-27,000/MT & foundry at INR 30,000-30,500/MT.
6. Tata Metaliks offer unaltered for foundry grade at INR 25,500/MT ex-plant, Kharagpur.
7. NINL’s fresh prices yet to open for domestic buyers and its main focus are to export the material. In current week another export tender of 15,000 MT settled at around USD 280/MT FOB Paradip and the shipment is likely for Bangladesh. The company now has scheduled 3rd tender for export of 30,000 MT material.
8. Global offers fall to USD 300/MT FOB Russia & at USD 295/MT FOB Brazil.
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