SAIL Increases Pig Iron Offer by INR 500/MT from Bhilai Steel Plant

Steel Authority of India Ltd (SAIL) has raised pig iron (steel grade) offers by INR 500/MT (USD 7) from its Bhilai Steel Plant (BSP), market sources confirmed SteelMint. Following hike in billet prices, pig iron offers have also witnessed upside.

The latest offer floated for a quantity of around 12,000 MT pig iron stands at INR 24,000/MT (USD 337) EXW-Bhilai, Central India. It also attracts a quantity discount of INR 100-300/MT, shared sources.

On 25th Oct'19, the company offered around 13,000 MT pig iron at INR 23,500/MT (USD 330) EXW-Bhilai. Trade sources reported to SteelMint, company received healthy bookings in its last offer floated with majorly total allotted quantity getting booked prominently by traders in Raipur at an average price of INR 23,200-23,300/MT EXW-Bhilai, which was later sold in local market.

Offers by other private producers are hovering at INR 23,000-23,200/MT ex-Jajpur(Odisha), INR 23,500/MT ex-Jharkhand, INR 24,000-24,200/MT ex-Durgapur, INR 24,100-24,200/MT FoR Raigarh & INR 25,500-26,000/MT FoR Ludhiana.