As SteelOrbis reported January 31, offer prices for domestic Indian pig iron near the Kolkota area were INR 26,200/mt ($410/mt) ex-works and continue at the same level. The price declined $1/mt in the past day on currency fluctuations. Sources report the same general pricing in the Durgapur area, which is also in eastern India, but in central east India, prices are reportedly slightly higher at 28,300/mt ($442/mt) ex-works Raipur region.
According to a source, prices between the two regions usually trend with a spread of INR 1,000-2,100/mt ($16-33/mt), with central prices higher compared to the Durgapur area. However, in early December, the source noted that prices in both regions converged at approximately INR 25,500/mt ($396/mt) before resuming their usual trend for the remainder of the month and through January.
USD = INR 64.36 (Dec 8, 2017)
USD = INR 63.96 (Feb 1)