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JSW Steel Recommences Pig Iron Sales in Merchant Market

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Pig Iron

BigMint Bureau

1230 Reads

13 Jun 2017, 18:42 IST

JSW Steel Recommences Pig Iron Sales in Merchant Market

India's largest and private steel manufacturer JSW Steel resumes pig iron sales in merchant market from its dolvi, Maharashtra based plant.

According to sources, the offer price for steel grade pig iron by JSW is around INR 22,000/MT (USD 340) ex-works.

This is after a long time that the company is offering pig iron in domestic market. Generally company uses it for its captive consumption and sells only when production is higher than the sales.

It is assumed that weak domestic demand has forced the company to sale material in merchant market.

JSW's gas based DRI offers are also heard to be corrected by INR 500/MT to INR 19,000-19,500/MT ex-plant.

JSW is India's largest second largest steel producer with an annual crude steel production of 15.8 MnT in FY17. Company's exports have increased significantly in FY17 (Apr'16 - Mar'17) owing to higher prices in global market.