In the present week, the pig iron suppliers across major Indian markets have further increase prices. The sources claim that, prices surge in line with strong demand from the both Indian domestic & global market.
The fresh prices are assessed – at INR 23,200-23,200/MT (+150) ex-Raipur, Central India, INR 21,800-22,000/MT (+550) in Durgapur, East India, INR 27,000-27,500/MT (+750) FOR Ludhiana, North India & INR 23,000-23,500/MT (+250) FOR Hyderabad, South India. Price changes are mentioned on weekly (against last week) basis.
Indian pig iron exports are significantly on rising mode as the large producers have concluded deals about 100,000 MT till the last week of Feb’17. Also, the producers few tender are inline which quantity similar as concluded during the month i.e. 100,000 MT.
Thus, strong demand by global buyers has made positive trends in the market. In addition sharp hike in semis prices is an additional plus point for domestically strong demand in pig iron.
The traders in Central & East India added that, prices may remain on rising mode as the large producers are eyeing to take bulk bookings by global buyers instead to sell material in domestic market. So, this may result in short supply and positively impact on prices.
Plant wise Offers:
1. Jindal Steel has gain prices by INR 400/MT to INR 22,700/MT ex-Raigarh. According to the officials few quantities have been sold out at increased prices in the local market.
2. Suppliers in Raipur are offering Odisha’s pig iron FOR at INR 23,200/MT which was a week ago offered at INR 22,800-22,900/MT. They added limited quantity are available with them and aggressively waiting for NINL fresh prices which likely to increase.
3. Durgapur reported hike in prices for steel grade material by KIC (Kajaria Iron company) and Neo Metaliks by INR 500/MT to INR 22,000/MT.
4. Atibir Industries in Giridih, has kept prices unaltered for steel grade at INR 20,600/MT ex-plant. According to the officials the company may soon increase prices looking at price rise in the major competitor markets.
5. Ludhiana based participants reported, major supply from Sona Alloys & Vedanta Sterlite. They further added that previous booked steel grade material in NINL yet to dispatch where quantity was nearly 5 rakes.
6. The sources in Hyderabad, South India reported Gerdau steel’s pig iron trade today at INR 23,250/MT FOR. Moreover, Vedanta sterlite offers is heard in the range of INR 24,000-24,500/MT.
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