Renowned Pig Iron Manufacturers in India Further Lower Prices

After sharp fall in NINL pig iron prices INR 1,400/MT (USD 22), other renowned producers in Central, East & Western Regions also cut their prices upto INR 1,000/MT (USD 15), W-o-W.

To compete with NINL offers, the manufacturers were reluctant to cut prices. Another major reason sited by them that is sharp fall in billet prices which decline upto INR 3,000/MT (USD 30), M-o-M till 20 May'17.

Current offers in domestic market have reached at INR 21,200-23,500/MT (USD 328-365) which was INR 22,500-24,000/MT (USD 348-372) ex-works, in the start of last week (15 May'17).

Plant Wise Offers:

1. Trade participants in Raipur, Central India reported offers by domestic manufacturer namely Jayaswal Neco Industries at around INR 23,000/MT ex-plant. While, from Odisha based manufacturers at INR 22,500/MT FOR & Including CST.

2. Manufacturers based in Durgapur, East India who's per day production is at 500-1,000 MT also cut their prices by INR 500-800/MT (USD 8-13). Latest offers by KIC (Kajaria Iron Company) & Neo Metaliks are reported at INR 21,800/MT for Steel grade material.

3. Acording to trade participants, Vedanta Resources in Western India lower prices upto INR 1,000/MT (USD 15). The fresh offers for steel grade are reported in the range of INR 21,000-23,000/MT and for foundry material at INR 24,000-26,000/MT ex-works.

5. Jharkhand based Atibir Industries reduced prices by INR 1,000/MT to INR 21,500-21,600/MT ex-plant, Giridih.

6. In South region, Hyderabad Gerdau Steel offers are heard at INR 23,500/MT and by Vedanta Resources at approx INR 23,700/MT FOR & Including CST.