India: TATA Metaliks Reduces Pig iron Price by INR 600-800/MT (USD 9-12)
TATA Metaliks Limited (TML) - one of the major foundry grade pig iron manufacturer in India has reduced its prices for Apr'19 deliveries.
The company has cut prices by INR 600/MT in foundry pig iron & INR 800/MT in low silicon pig iron, SteelMint learned from officials.
As per them, the latest offers for foundry pig iron is at INR 32,500/MT (USD 470) & Low Silicon (1-1.5%) at INR 29,000/MT (USD 420), against Mar'19 offers at INR 33,100/MT & INR 29,800/MT, respectively. The prices are ex-plant, Kharagpur, eastern India.
It seems the producer has slashed prices in line with constant drop in steel & pig iron prices as well since mid of Feb'19. This has forced producers to keep prices lower side to get better response.
TATA Metaliks recently has announced to expand its production capacity. Presently the company has hot metal installed capacity of about 5 lakh tone p.a., in which the production of DI pipe is about 2 lakh tone p.a. and about 3 lakh tone hot metal convert in to pig iron.
However in board meeting held on 27th Feb'19, the Board of Directors has approved capacity expansion of DI Pipe unit from 2 lakh tone p.a. to 4 lakh tone p.a. along with augmentation of the Mini Blast Furnace capacity and installation of a new 15 MW Power Plant.
For this expansion the company plans to invest about INR 555 crores and targeted to compete it by FY 2022.
In the current installed capacity of 5 lakh tone p.a. of hot metal the company has reported production utilisation of 100% for hot metal and 110% on pipe productions.
TATA Metaliks largely supplies pig iron in India's north-east regions including local market.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
