India Steel Market Watch
December 7: Pig iron offers showed a sliding trend on low buying support from foundries and steel producers in the market, sources informed ISMW.
Current pig iron offers were in the range of Rs 23,000 - 24,000 per ton. Prices fell across locations on poor demand levels by Rs 100-500 per ton.
Neelachal Ispat Nigam Ltd (NINL) decreased steel-grade pig iron offers by Rs 700 per ton in the domestic market to Rs 15,200 per ton ex-plant, according to information available with ISMW.
Currently, offers for N1 grade pig iron (Si 1.24%, Mn< 1%, S 0.05% max, P 0.15% max and C 3.6-4.3%) are at Rs 15,200 per ton, ex-Cuttack, which were previously at Rs 15,900 per ton.
The company is also allowing discounts up to Rs 400 per ton on purchases of 10,000 tons and above.
The quantity available for sale is 30,000 tons.
The company is also offering N2 grade pig iron (Si 1.25-2.25%, Mn< 1%, S 0.05% max, P 0.15% max and C 3.6-4.3%) at Rs 15,500 per ton, ex-Cuttack, down Rs 700 per ton from the previous level of Rs 16,200 per ton.
The quantity available for sale is 4,000 tons.
NINL prices are valid till December 14, 2015.
Following are pig iron offers in domestic markets:
Market |
Prices as on 10.31.2015 |
Prices as on 11.07.2015 |
Prices as on 11.14.2015 |
Prices as on 11.21.2015 |
Prices as on 11.28.2015 |
Prices as on 12.07.2015 |
Weekly change from 11.28.2015 |
Pig Iron |
|||||||
Batala |
24800 |
24400 |
24200 |
23900 |
23500 |
23000 |
-500 |
Jalandhar |
24700 |
24300 |
24500 |
22500 |
23500 |
23400 |
-100 |
Ludhiana |
25000 |
24700 |
24700 |
24000 |
23800 |
23300 |
-500 |
Hydrabad |
|
|
|
22500 |
|
|
N/A |
Gaziabad |
25500 |
25000 |
24500 |
26000 |
24000 |
24000 |
- |
Following are pig iron prices of NINL over the last few months:
Time period |
Steel grade (N1) Pig Iron |
Foundry grade (N2) Pig Iron for road despatches |
|
April 07-April 20, 2015 |
18400 |
|
|
April 20-April 30, 2015 |
18400 |
18400 |
|
April 28-May 15, 2015 |
17700 |
|
|
May 5-May 20, 2015 |
|
18400 |
|
May 19-June 12, 2015 |
17500 |
17700 |
|
June 19-June 23, 2015 |
17500 |
17700 |
|
June 25-July 10, 2015 |
17400 |
17600 |
|
July 16-July 31, 2015 |
|
17500 |
|
July 22-July 31, 2015 |
16700 |
|
|
Aug 4-Aug 21, 2015 |
16400 |
16700 |
|
Aug 25-Sept 4, 2015 |
16400 |
16700 |
|
Sept 8-Sept 18, 2015 |
17000 |
|
|
Sept 21-Sept 30, 2015 |
17800 |
|
|
Sept 23-Sept 30, 2015 |
|
18100 |
|
Oct 5-Oct 12, 2015 |
17400 |
|
|
Oct 6-Oct 12, 2015 |
|
17700 |
|
Oct-13-Oct 26, 2015 |
16800 |
17300 |
|
Oct 28-Nov 4, 2015 |
16400 |
16700 |
|
Nov 5-Nov 20, 2015 |
15900 |
16200 |
|
Nov 23-Dec14, 2015 |
15200 |
15500 |
Source: Traders