India Steel Market Watch
December 28: Pig iron offers recovered marginally on buying support from foundries and steel producers in the market, sources informed ISMW.
Current pig iron offers were in the range of Rs 22,400 - 23,000 per ton.
Neelachal Ispat Nigam Ltd (NINL) is yet to announce its latest prices. The company had kept steel-grade pig iron offers unchanged in the domestic market at Rs 15,200 per ton ex-plant during its earlier announcement of prices in December, 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 15,200 per ton, ex-Cuttack, which were previously at the same level.
The company is also allowing discounts up to Rs 400 per ton on purchases of 10,000 tons and above.
The quantity available for sale is 30,000 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 15,500 per ton, ex-Cuttack, unchanged from the previous prices.
The quantity available for sale is 3,000 tons.
NINL prices were valid till December 24, 2015. Sources said the new price circular would be announced shortly.
Following are pig iron offers in domestic markets:
Market |
Prices as on 11.28.2015 |
Prices as on 12.07.2015 |
Prices as on 12.12.2015 |
Prices as on 12.19.2015 |
Prices as on 12.26.2015 |
Weekly change from 12.19.2015 |
Monthly Change from 11.28.2015 |
Pig Iron |
|||||||
Batala |
23500 |
23000 |
22700 |
22400 |
22500 |
100 |
-1000 |
Jalandhar |
23500 |
23400 |
23000 |
22400 |
22400 |
- |
-1100 |
Ludhiana |
23800 |
23300 |
22900 |
22500 |
22500 |
- |
-1300 |
Hydrabad |
|
|
|
15000 |
|
N/A |
N/A |
Gaziabad |
24000 |
24000 |
23000 |
23000 |
23000 |
- |
-1000 |
Source: Traders