IISCO, a unit of SAIL, is the 2nd largest Pig iron maker in India, is heard to offer steel grade Pig iron at INR 18,300/MT (USD 275/MT) ex-Burnpur, West Bengal.
The plant’s last offer was assessed at around INR 18,100/MT in the month of Apr’16.
As per a Ludhiana based trader, “Steel grade Pig iron is available here in high quantity as a single rake of IISCO and one rake of Kajaria Steel delivered this week. Offers are reported at INR 24,300-24,500/MT (landed; including ED @ 12.5%). Foundry grade material of Tata Metaliks will reach here by 15th of this month.’’
Highlights
1. Raigarh based Monnet Steel is offering steel grade Pig iron at INR 20,700-20,800/MT, landed to Raipur, sources reported. While, Raipur based Jayaswal Neco is offering the material at INR 21,200/MT ex-plant.
2. Few Durgapur based manufacturers like Neo Steel and Kajaria Steel reduced offers this week by around INR 200-300/MT to INR 19,300/MT.
3. Foundry grade Pig iron shortage is continued in Ludhiana, which has resulted in sharp price rise of INR 2,000- 2,500/MT in a month. Current offers are assessed at INR 28,500-29,000/MT (FoR to the plant, including 12.5% ED).
4. At present in West Bengal, there are no sellers for foundry grade Pig iron, reported traders based in the region.
Steel Grade Pig iron Prices as on 6 May’16
| Particulars | Currency | Prices | W-o-W | M-o-M | Q-o-Q |
| Ex-Cuttack | INR/MT | 19,200 | – | – | – |
| Ex-Cuttack(NINL) | INR/MT | 19,200 | 400 | 700 | 2,550 |
| Ex-Durgapur | INR/MT | 19,250 | 150 | 500 | 1,825 |
| Ex-Giridih | INR/MT | 19,100 | 50 | – | 3,100 |
| Ex-Hyderabad | INR/MT | 21,200 | 600 | 2,850 | 4,400 |
| Ex-Ludhiana | INR/MT | 24,500 | 425 | 1,150 | 3,150 |
| Ex-Raipur | INR/MT | 21,200 | 525 | 700 | 2,325 |
| Ex-Vizag | INR/MT | 18,300 | – | 1,125 | 1,500 |
| FOB Brazil | USD/MT | 270 | 0 | 43 | 85 |
| FOB India | USD/MT | 280 | 0 | 55 | 90 |
| FOB Russia | USD/MT | 290 | 10 | 53 | 115 |
Ex-works basic prices
Source: SteelMint Research
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