Pig iron market witnesses slight correction in prices with Stock clearance pressure on manufacturers. RINL maintains its previous offer by allowing discounts.
RINL, one of India’s largest Pig iron exporters has decided to maintain the prices of Basic grade Pig iron for March at around INR 24,250/MT (basic). It is offering a discount of INR 500/MT for bulk purchase, orders at INR 23,750/MT.
Steel grade offers at Durgapur declined by INR 100-200/MT. It is hovering at INR 24,200-24,400/MT (basic) and foundry grade at INR 26,200-26500/MT (basic). Tata Metalliks also maintains its offers at INR 28,000/MT.
[su_quote cite=”A trader at Ludhiana”]Prices are sustaining here, but pressure on traders w.r.t prices & sales would soon be seen in Ludhiana too; probably around mid of the month.[/su_quote]
[su_quote cite=”A Hyderabad based manufacturer”]Although, prices are almost unchanged with the regular demand, Indian festival (Holi) would affect the production & sale in March as much of the migrated employees go for holidays. In fact, plants might shut down for 1-2 days owing to this reason.[/su_quote]
Koppal based manufacturers’ maintained offers at same level for last month of the financial year, but currently struggling with high production cost. Prices are expected to shoot up with the start of FY15.
Current Price of Pig Iron in various Cities of India
|
Place |
Steel Grade |
Place |
Foundry Grade |
|
Chennai |
26,000 |
Chennai |
28,500-29,000 |
|
Ludhiana |
30,900-31,000 |
Ludhiana |
32,500 |
|
Raipur |
25,800 |
Raipur |
27,500 |
|
Durgapur |
24,200-24,400 |
Durgapur |
26,200-26,500 |
|
Giridih |
24,200 |
Durgapur* |
28,000 |
|
Hyderabad |
25,500 |
Hyderabad |
27,500 |
|
Raigarh |
25,000-25,200 |
Koppal |
28,125 |
|
Rourkela |
24,200 |
Goa |
27,500 |
|
Bokaro |
23,500 |
|
|
|
Vizag |
24,250 |
|
|
Basic Price in INR/MT
Ludhiana : VAT extra
Durgapur*: Tata Metaliks
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