Other Elements and Materials

India: Tata Metaliks Rolls Over Foundry Grade Pig iron Prices

India: Tata Metaliks Rolls Over Foundry Grade Pig iron Prices
Mining News Pro - Tata Metaliks Limited (TML), India`s one of the major foundry grade pig iron manufacturer has kept price unchanged for Nov`18 deliveries after a hike of INR 800/MT (USD 11) during Oct`18.
  Zoom:

According to Mining News Pro -Tata Metaliks Limited (TML), India`s one of the major foundry grade pig iron manufacturer has kept price unchanged for Nov`18 deliveries after a hike of INR 800/MT (USD 11) during Oct`18.

As per officials, consistent good demand is the major factor behind stability in foundry pig iron prices as demand from foundry industries continues strengthening.

The latest offers for high silicon, foundry grade pig iron reported at INR 33,800/MT (USD 461), similar against Oct`18 deliveries. The offers are excluding 18% GST & ex-plant, Kharagpur, East India.

Profit Surge by 21% in H1 FY19

Tata Metaliks Limited (TML) posted a gain of 21.5% in net profit (PAT) in H1 FY19 to INR 77.92 crore on rise in production and higher price realizations.

Total earnings before interest taxes depreciation and amortisation (EBITDA) in H1 FY19 was INR 153.75 crore compared to INR 127.05 crore in H1 FY18.

Total sales of Pig iron went up to 152,377 MT and 97,777 MT of DI Pipe for H1 FY19 compared to 134,627 MT of Pig Iron and 94,667 MT of DI Pipe in H1 FY18.

Further the company assumes positive outlook for H2 FY19 on assumptions of boost in demand of DI pipes after the monsoons and major festivals though there is continued upward pressure on prices of key raw materials - iron ore, coal and coke. Rupee depreciation has also made imported raw materials and consumables costly.

Tata Metaliks Limited  is a subsidiary of Tata Steel. It has its manufacturing of pig iron and ductile iron pipes. The plant`s annual hot metal production capacity is 500,000 MT out of which about 200,000 MT is converted into Ductile Iron (DI) pipes and the rest into pig iron.


   Short Link:  
Related News
Esfahan Mobarakeh Steel co.
HOSCO
khuzestan steel
chadormalu Co.
ghadir neiriz co
IranAluminaJaajarm
sangan steel
ahan o fulad golgohar