Indian Pig Iron
manufacturers have raised their offers by Rs 300-500/MT looking at higher Iron
ore and Scrap prices and better demand for Pig Iron in the domestic market.
Steel prices have shot by Rs 1,000-1,200/MT in the last few days.
Jharsugda have increased their offers to Rs 26,400/MT (Basic price) for Steel
grade, up by Rs 400/MT. Adhunik Steels have also raised their offers by Rs 400/MT
and Steel grade is offered at Rs 26,400/MT (Basic price).
Jaiswal Neco at Raipur
had increased its offer by Rs 200/MT few days back to Rs 28,200/MT (Basic price)
where as Neelanchal Ispat at Cuttack is set to open its prices shortly which
will set further direction to the market. Its last offered prices are at Rs 25,500/MT
(Basic price).
Steel grade Pig Iron price at Girdih, Jharkhand
has gone up by Rs 300/MT to Rs 26,600/MT (Basic price). Looking at the market conditions, one can be sure
that Pig Iron prices in India will remain high and downtrend is limited in near
term.
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