The private pig iron producers in Jharkhand, Durgapur & Odisha – eastern India have gradually decline their prices and as per assessment in current week prices reduced by INR 200-500/MT (USD 3-7).
The prices moved down in line with significant fall in domestic billet prices which drop by INR 1,000-2,000/MT (USD 14-28) in a week. Thus this has cautious mills for fresh bookings of pig iron.
The latest offers for steel grade through the Jharkhand (Giridih & Bokaro) based manufacturers assessed at INR 27,600-27,800/MT which was not less than of INR 28,000/MT (ex-plant) during last week.
Similarly the producers in Durgapur heard to have traded steel grade pig iron at INR 28,100-28,300/MT as against offers in last week of INR 28,500-28,700/MT ex-plant.
A producer in Jajpur, Odisha being confirmed, deals for steel grade pig iron at INR 26,800-27,000/MT than the offers a week ago at INR 27,000-27,200/MT; ex-plant. Bookings are majorly reported for local market & central India.
Meanwhile the stockiest have being quoted competitive offers than the offers through manufacturers. Steel grade pig iron offers by traders assessed at INR 28,100-28,300/MT FoR Raipur/Raigarh & INR 31,500/MT FoR Ludhiana. The prices down by INR 200/MT & INR 300-500/MT, respectively (W-o-W).
— After a long span a integrated plant in Raigarh has offered pig iron in merchant market and the offers through the officials reported at INR 27,800-28,000/MT (ex-plant) for steel grade material.
However it is learned that – Neelachal Ispat (NINL) has received good response on revised prices on 13th Feb’19, in which the company has raised steel grade pig iron prices by INR 750/MT to INR 26,750-27,150/MT ex-plant, Cuttack, eastern India. If participants are to believed, more than 25,000 MT pig iron have been booked through the local and Central India based traders due to competitive prices.
NINL is India’s largest merchant producer & exporter of pig iron with an annual hot metal production capacity of about 1.1 MnT.
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