“It is expected that Rashtriya Ispat Nigam Limited (RINL), might increase Steel Grade Pig Iron Pig Iron offers by Rs 500/MT in a couple of days”, market experts reported SteelMint.
“The hike might take place on reasons such as scarcity of the material and expensive raw material prices”, they added.
Currently, Steel Grade material is being quoted at Rs 24,900/MT (Basic price) which might be offered at Rs 25,400/MT on expectations of hike.
RINL witnessed better realisations on exports on rising dollar. Last deals were concluded at $476/t (Ex-plant).
Manufacturers in Jharsuguda raised offers by Rs 500/MT for Steel Grade on account of less availability of the material. Pig Iron is being traded at Rs 26,500/MT (Basic price), which was previously quoted at Rs 26,000/MT (Basic price).
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