Central India: SAIL Resumes Pig Iron Offers in Merchant Market

Steel Authority of Indian Ltd (SAIL) has resumed offers of basic grade pig iron from its central India based unit Bhilai Steel Plant (BSP).

As per sources, the company's fresh offer for basic (steel) grade pig iron is hovering at INR 28,200/MT EXW-Bhilai, Central India. In addition, there is discount offered by the producer on bulk bookings, as stated by participants.

Inline, the available stock of the material was assessed is near to 20,000 MT in which about 30-40% have been sold out just after offers opened up on 14-15th Feb'20 to the local market based traders & furnaces owners.

The current offer by Raipur based producer is assessed at INR 28,500/MT ex-plant, equivalent to landed cost of BSP's pig iron.

SAIL's last deals for steel grade pig iron were assessed during mid Dec'19 at around INR 24,500/MT EXW-Bhilai.

Further, the offers in other parts of India through the private mills stand at INR 28,100-28,300/MT ex-Raigarh (Central India), INR 27,500-28,000/MT ex-Durgapur, INR 27,200-27,400/MT ex-Jharkhand (Eastern India), INR 29,600-29,700/MT FoR Ludhiana (North India), & INR 28,500-28,700/MT FoR Hyderabad in Southern India.