Pig Iron manufacturers worry on rising input costs; prices likely to be range bound

Pig iron manufacturers across India are facing one of the toughest time given by weakening steel demand & falling prices. On top of that, rising input cost of iron ore and coal have further squeezed the profit margins.

“Pig iron prices (steel grade) across India are hovering around Rs 25,000-27,000/MT ($480-$520/MT). Non-availability of iron ore,expensive imports of coal have left us to operate at 50% of our capacity. Most of the manufacturers are facing the same problem.

We do not see major correction in pig iron prices in near term. Prices will remain stable as Scrap imports have turned expensive due to Rupee depreciating further & trading at all time low”, said a manufacturer based in Raipur.