Indian private pig iron producers based in Eastern belt (West Bengal & Jharkhand) as well as Central belt (Raipur), have increased prices by INR 100-500/MT (USD 1-7), as per SteelMint’s latest price assessment.
As per trade participants, pig iron suppliers reported that offers increased over rising raw materials prices.
As per SteelMint assessment the latest offers for Steel grade Pig iron is hovering at INR 29,700-30,000/MT ex-Durgapur at West Bengal, INR 29,500-30,000/MT ex-Jharkhand, INR 29,500-29,700/MT ex-Raipur & for Vizag/Hyderabad are reported INR 28,300-28,500/MT.
Key Updates
— Neelachal Ispat Nigam Ltd (NINL) has extended the validity for the domestic pig iron price circular to 24th August. The latest offers for Steel (N1) grade material are assessed at INR 28,100/MT (USD 402), ex-Cuttack, Odisha.
— Jindal Steel has rallied its offer by INR 500/MT to INR 30,000/MT Ex-plant, Raigarh for Steel grade pig iron. Prices for panther shots (granulated pig iron) being raised to INR 28,5000/MT from earlier about INR 28,000/MT Ex-plant, Angul Odisha.
— Neo Metaliks, a merchant pig iron supplier in West Bengal, East India has raised prices to INR 30,000/MT as against last trades at around INR 29,700-29,800/MT; ex-plant & excluding GST.
— Atibir Industries, a major manufacturer of steel grade pig iron in Giridih, Jharkhand has also raised prices to INR 30,000/MT than the same time in last week at INR 29,500/MT ex-plant & excluding GST.
— Raipur – Central India based suppliers have offered Steel grade Pig iron at around INR 29,500-29,700/MT FoR & INR 29,400-29,500/MT FoR Raigarh.
— Ludhiana, North India based trade participants reported steel grade pig iron offers at INR 31,500/MT & foundry grade at INR 34,700/MT on FoR basis & excluding 18% GST.
— Foundry grade Pig iron offers by Tata Metaliks (Kharagpur, West Bengal) assessed at INR 33,000/MT ex-plant & excluding GST.
— SteelMint’s price assessment for export of pig iron is around USD 365-370/MT FoB India, down by USD 5/MT W-o-W. Amid falling global scrap prices, Indian pig iron export offers have come down.
— The current offer for the Premium HCC, Australia coking coal has reported at around USD 198.5/MT CNF India.
Pig Iron Prices, Steel Grade
| Particular/Delivery | Prices | D-o-D | W-o-W |
| Ex-Bokaro | 29,500 | + 500 | +700 |
| Ex-Cuttack | 27,900 | 0 | 0 |
| Ex-Durgapur | 29,800 | + 100 | +600 |
| Ex-Giridih | 29,700 | + 400 | +500 |
| Ex-Hyderabad | 28,800 | 0 | 0 |
| Ex-Jharsuguda | 28,500 | 0 | +300 |
| Ex-Ludhiana | 31,500 | 0 | -100 |
| Ex-Raipur | 29,700 | 0 | +300 |
| Ex-Vizag | 28,300 | 0 | 0 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply