SAIL Offers 13,000 MT Pig Iron from Bhilai Steel Plant, Price Stable

Steel Authority of India Ltd (SAIL) has kept pig iron (steel grade) offers firm for remaining Oct'19, SteelMint learned from sources.

The latest offer floated from it's Bhilai Steel Plant is similar to last quotation and stands at INR 23,500/MT (USD 332) EXW-Bhilai, central India. Offers are floated for a quantity of 13,000 MT pig iron .

The fresh offers also attracts a quantity discount of INR 100-300/MT.

In Sep'19, the producer offered around 15,000 MT pig iron at INR 23,400/MT (USD 330) EXW-Bhilai. After that the company raised prices by INR 100/MT to INR 23,500/MT for 20,000 MT on 7th Oct'19.

As per sources report, out of the material offered, more than 50% quantity is usually booked by Raipur based stockiest/traders which is later sold in local market.

Pig iron offers of other private producers are hovering at INR 22,700-22,900/MT ex-Jajpur(Odisha), INR 23,000/MT ex-Jharkhand, INR 23,100-23,500/MT ex-Durgapur, INR 23,700-23,900/MT ex-Raigarh & INR 25,500-25,800/MT FoR Ludhiana.

source: SteelMint