TATA Metaliks Increases Pig Iron Price by INR 1,200-1,300/MT
TATA Metaliks has raised basic (steel) grade pig iron prices by INR 1,300/MT (USD 19) & Foundry grade by INR 1,200/MT (USD 17) for Jan’20 deliveries. The company is known as largest foundry grade pig iron manufacturer in eastern India.
The current offers by TATA Metaliks for Low Silicon (1-1.5%) pig iron reported at around INR 27,800/MT (USD 390), which was earlier trading at INR 26,500/MT; ex-plant. Also, the Foundry grade pig iron prices have increased to INR 30,200/MT (423) as against previous offers of INR 29,000/MT, ex-plant, Kharagpur, eastern India.
Prior to this, the company raised prices on 23 Dec'19 total of INR 1,500/MT (USD 21) for basic grade pig iron.
As per sources, following strong demand amid constant hike in prices by private pig iron producers, TATA Metaliks has raised prices sharply for Jan'20 deliveries.
It should be noted that pig iron prices through the private mills in eastern India have increased by about INR 1,000/MT W-o-W & INR 3,000/MT in a month's duration owing to short supply & surge in steel prices globally.
The fresh offers through the private mills for steel grade pig iron are hovering at INR 28,000-28,500/MT ex-Raipur, INR 28,500-28,800/MT FoR Raigarh, INR 26,700-27,000/MT ex-Durgapur & INR 29,400-29,800/MT FoR Ludhiana, excluding of 18% GST.
source: SteelMint
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