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TATA Metaliks Increases Pig Iron Price for 2nd Time in Jan'20
Date: 10-01-2020 00:00:00

TATA Metaliks has further raised pig iron prices today and current hike is by INR 1,700/MT (USD 24) for basic (steel) grade pig iron & INR 1,800/MT (USD 25) for foundry grade material. This is company's 2nd hike so far this month as prior to this, the company had raised prices on 2nd Jan'20 total of INR 1,300/MT (USD 21) for basic grade pig iron. The fresh offers by TATA Metaliks for low silicon (1-1.5%) pig iron is reported at INR 29,500/MT (USD 413), which was earlier trading at INR 27,800/MT; ex-plant. Also, the foundry grade pig iron prices have increased to INR 32,000/MT (448) as against previous offers of INR 30,200/MT, ex-plant, Kharagpur, eastern India. It seems that, with improved demand from consumers following surge in billet prices along with tight supply of pig iron in merchant market has influenced producers to keep prices on rising mode. Tata Metaliks has hot metal installed capacity of about 5 lakh tone p.a., in which the production of DI pipe is about 2 lakh tone p.a. and about 3 lakh tone hot metal which convert in to pig iron. Domestic pig iron prices in India- The fresh offers through the private mills for steel grade pig iron are hovering at INR 30,300-30,500/MT ex-Raipur, INR 30,800-31,000/MT ex-Raigarh, INR 28,300-28,700/MT ex-Durgapur, INR 28,400-28,600/MT ex-Jharkhand & INR 30,300-30,500/MT FoR Ludhiana, excluding of 18% GST.

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