Indian domestic pig iron prices fall to 8-months low in June 2017 due to fall in cost of production.
Current offers for steel grade pig iron are hovering at INR 19,800-22,500/MT (USD 305-345) ex-works which were last seen in Nov 2016.
Coking coal prices, which had crossed USD 300/MT FOB levels have come down to USD 150-160/MT.
Updates
1. Jindal Steel is offering Pig iron at INR 21,500/MT, Granulated Pig iron at INR 20,400/MT & Pooled iron at INR 19,000/MT ex-plant, Raigarh.
2. Tata Steel offers for Pooled iron at INR 18,500-18,700/MT ex-Plant, Odisha.
3. Jharkhand based Atibir Industries have sold pig iron at INR 21,500-21,600/MT ex-plant, officials reported.
4. Durgapur based merchant pig iron manufacturers increased offers by INR 500/MT to INR 21,500/MT.
5. NINL, India’s state owned and largest steel grade pig iron supplier has reduced its domestic prices thrice in June 2017 by INR 1,400/MT (USD 22). The last offers by the company was at INR 20,000-20,250/MT for Steel (N1) grade.
6. There is demand for Indian pig iron in global market, but few tender have failed due to lower export realization as compared to domestic price.
7. Recently MMTC, state owned trading house has concluded a 30,000 MT export deal at around USD 300/MT FOB India east coast.
8. Indian pig iron exports in June 2017 were recorded at 68,500 MT against 25,000 MT in May’17.
9. Recently MMTC, the state owned trading house has concluded a 30,000 MT export deal at USD 300/MT FOB India East coast.
10. Indian pig iron price seems to have stabilized as room for further fall is limited.
Leave a Reply