India: SAIL Increases Pig Iron Offer by INR 100/MT for Oct 2019

Steel Authority of India Ltd (SAIL) has raised pig iron (steel grade) offers by INR 100/MT from its Bhilai Steel Plant (BSP), officials confirmed SteelMint.

The latest offer floated for a quantity of 20,000 MT pig iron stands at INR 23,500/MT (USD 330) EXW-Bhilai, Central India. It also attracts a quantity discount of INR 100-300/MT.

In Sep'19, the producer offered around 15,000 MT pig iron at INR 23,400/MT (USD 329) EXW-Bhilai. Out of the material offered, close to 70% material was booked by Raipur based stockiest/traders which was later sold in local market.

Offers of other private producers are hovering at INR 22,600-22,800/MT ex-Jajpur(Odisha), INR 23,000/MT ex-Jharkhand, INR 23,300-23,600/MT ex-Durgapur, INR 23,700-23,900/MT ex-Raigarh & INR 25,800-26,000/MT FoR Ludhiana.