The consistently good demand in pig iron has led to marginal increase in prices by INR 200-300/MT in week duration.
The trade participants in Central & East India indicated that there will be further uptick in pig iron prices analyzing those higher prices of substitute products and anticipated increase in export deals & prices as well.
The large producers of pig iron are getting better margins to export material amid bulk bookings & increase in prices. On M-o-M, Indian pig iron export deals attract higher bid by USD 15/MT to USD 313/MT. It seems that it will remain on increasing mode over unavailability of the material from CIS nations and surge in prices of scrap & coking coal in the global market. Thus, it will directly impact on domestic prices & supply as well.
The fresh prices for steel grade pig iron are as follow – at INR 23,300-23,500/MT ex-Raipur, Central India, INR 21,600-21,800/MT in Durgapur, East India, INR 23,400-23,500/MT FOR Hyderabad, South India & INR 27,000-27,500/MT FOR Ludhiana, North region.
An official from Tata Steel reported prices for Ferro shots at INR 20,500/MT & Pooled iron at INR 18,800-19,000/MT ex-plant, Kharagpur (Odisha). The company is also exporting ferro shots through containers but the deal prices yet to be confirmed by officials.
Plant wise offers:
1.As there is anticipation for price surge, Jindal Steel is not offering material presently; the company’s last trade price was at INR 22,700/MT ex-Raigarh
2.Suppliers in Raipur has increased offers of Odisha’s pig iron by INR 200/MT to INR 23,300-23,500/MT FOR
3.In Durgapur, Steel grade material is being offered by KIC (Kajaria Iron company) and Neo Metaliks at INR 21,800/MT
4.Atibir Industries in Giridih, has increased prices during last weekend by INR 500/MT to INR 21,100/MT ex-plant
5. Ludhiana based trade source added, major supply from Sona Alloys & Vedanta Sterlite; steel grade offers at INR 27,000-27,500/MT & foundry at INR 31,000-31,500/MT FOR
6. The sources in Hyderabad, South India reported Gerdau steel’s & SLR Metaliks pig iron trades at INR 23,400-23,500/MT FOR. Moreover, Vedanta Sterlite offers is heard in the range of INR 24,000-24,500/MT FOR
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