India Steel Market Watch
November 2: Pig iron offers showed a sliding trend on low buying support from foundries and steel producers in the market.
Current pig iron offers were in the range of Rs 24,700 - 25,500 per ton.
Neelachal Ispat Nigam Ltd (NINL) decreased steel-grade pig iron offers by Rs 400 per ton in the domestic market to Rs 16,400 per ton ex-plant, according to information available with ISMW.
Currently, offers for N1 grade pig iron (Si 1.24%, Mn< 1%, S 0.05% max, P 0.15% max and C 3.6-4.3%) are at Rs 16,400 per ton, ex-Cuttack, which were previously at Rs 16,800 per ton.
The company is also allowing discounts up to Rs 300 per ton on purchases of 2,000 tons and above.
The quantity available for sale is 25,000 tons.
The company is also offering N2 grade pig iron (Si 1.25-2.25%, Mn< 1%, S 0.05% max, P 0.15% max and C 3.6-4.3%) at Rs 16,700 per ton, ex-Cuttack, down Rs 600 per ton from the previous level of Rs 17,300 per ton.
The quantity available for sale is 5,000 tons.
NINL prices are valid till November 16, 2015.
Following are pig iron offers in the domestic markets:
Market |
Prices as on 10.03.2015 |
Prices as on 10.10.2015 |
Prices as on 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Weekly change from 10.23.2015 |
Monthly Change from 10.03.2015 |
Pig Iron |
|||||||
Batala |
25200 |
|
25200 |
25000 |
24800 |
-200 |
-400 |
Jalandhar |
25000 |
|
25300 |
25100 |
24700 |
-400 |
-300 |
Ludhiana |
25500 |
|
25500 |
24500 |
25000 |
500 |
-500 |
Hydrabad |
|
|
|
|
|
N/A |
N/A |
Gaziabad |
26500 |
|
26000 |
26000 |
25500 |
-500 |
-1000 |
Time period |
Steel grade (N1) Pig Iron |
Foundry grade (N2) Pig Iron for road despatches |
|
April 07-April 20, 2015 |
18400 |
|
|
April 20-April 30, 2015 |
18400 |
18400 |
|
April 28-May 15, 2015 |
17700 |
|
|
May 5-May 20, 2015 |
|
18400 |
|
May 19-June 12, 2015 |
17500 |
17700 |
|
June 19-June 23, 2015 |
17500 |
17700 |
|
June 25-July 10, 2015 |
17400 |
17600 |
|
July 16-July 31, 2015 |
|
17500 |
|
July 22-July 31, 2015 |
16700 |
|
|
Aug 4-Aug 21, 2015 |
16400 |
16700 |
|
Aug 25-Sept 4, 2015 |
16400 |
16700 |
|
Sept 8-Sept 18, 2015 |
17000 |
|
|
Sept 21-Sept 30, 2015 |
17800 |
|
|
Sept 23-Sept 30, 2015 |
|
18100 |
|
Oct 5-Oct 12, 2015 |
17400 |
|
|
Oct 6-Oct 12, 2015 |
|
17700 |
|
Oct-13-Oct 26, 2015 |
16800 |
17300 |
|
Oct-28-Nov 16, 2015 |
16400 |
16700 |
Source: Traders