Vizag Steel, one of the largest suppliers of Pig iron in the merchant market, has further increased its prices by INR 1,000/MT for Oct’16 deliveries. In the last month, the company also surged its prices by approx INR 3,500/MT due to rising coking coal prices and increase in prices by other suppliers in the domestic market.
Current offers for steel grade Pig iron are assessed at INR 21,700/MT (USD 324) ex-Vizag, south India. The company is also offering discount of INR 500/MT on purchase of above 5,000 MT.
Trade sources reported that during the last month, the manufacturer had sold about 20,000-25,000 MT Pig iron and most of the deals have been concluded for central India through rakes. Freight charges via rake to Raipur is assessed at INR 900/MT.
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