Tata Metaliks Limited has reduced pig iron prices after a long gap of five months. They currently offer the material at Rs 26,000/MT (ex works Kharagpur) which is down by Rs 500/MT for w.e.f August 1, 2013. Earlier price deductions were done late back in first week of February, 2013.
Meanwhile, Steel grade Pig iron offers in Durgapur have come down to Rs 22,000/MT, which are at a low of 2 years and 7 months. The main reason behind price deductions in foundry grade pig iron is noted to be price reduction of steel grade pig iron in Indian market. Cheaper steel grade pig iron prices affected the sales in Foundry grade material and thus resulted in its price decline.
Tata Metaliks Limited is a public limited company promoted by Tata Steel Limited (formerly, The Tata Iron and Steel Company Limited) and assisted by The West Bengal Industrial Development Corporation. Located at Kharagpur in West Bengal, it has an annual capacity of 350,000 tons. The Company also provides its customers with critical support across their entire business cycle – raw material, process and end product – helping it emerge as their business partners.
Buyers now consider adding some amount of Ferro Silicon to Steel grade material and use it instead of buying the costly foundry grade material.
Competing with Tata Metaliks, other West Bengal based manufacturers such as Neo Metaliks Limited and Rashmi Metaliks Limited are offering the same material at Rs 26,000/MT and Rs 25,500/MT (Basic) respectively. However, Neo Metaliks has offered discount of Rs 200/MT only on purchase of bulk quantity of around 300-400 tons at a time.