TATA Metaliks Increase Basic Grade Pig Iron Price by INR 600/MT

TATA Metaliks has raised basic (steel) grade pig iron price by INR 600/MT (USD 8), this week amid better demand.

The current offers by TATA Metaliks for Low Silicon (1-1.5%) pig iron reported at around INR 25,800/MT (USD 363), which was earlier trading at INR 25,200/MT; ex-plant. However the Foundry grade pig iron prices reported firm at around INR 29,000/MT (USD 408), ex-plant, Kharagpur, eastern India.

TATA Metaliks Limited (TML) which is known as largest Foundry grade pig iron manufacturer in eastern India has earlier increased prices by INR 500/MT for Nov'19.

Furthermore, with improved demand from consumers amid surge in billet & steel grade Pig iron prices, the producer recent has raised prices for Low Silicon (steel grade) pig iron.

The private producers have raised steel grade pig iron price by INR 1,000-2,000/MT on monthly basis and currently offering at INR 24,300-24,500/MT ex-Bokaro & INR 25,000-25,300/MT ex-Durgapur & INR 24,600-24,800/MT ex-Raipur, excluding of 18% GST.

Vedanta hikes pig iron offers - Vedanta raised pig iron prices by INR 500-700/MT across all grades on account of improved market. This is the second consecutive hike in Dec'19, as per company officials. Basic grade offers are reported around INR 29,000-29,500/MT ex-Maharashtra .