Pig iron producers plan to increase prices further by the end
of September as they are still faced a huge shortage of iron ore and coal price also remain high.
More over, rising scrap prices might support pig iron ore prices.Currently imported scrap is being traded at $480/ton (CNF Mumbai) and expected to go up further later this month.
Pig Iron prices for the foundry grade at
Raipur showed a marginal hike of Rs 300/MT. However, In Goa
steel grade prices moved up by Rs 500/MT
Power cut and heavy rainfall at some region like Raigarh,
Durgapur and Cuttack pulled down the trading activities and prices slipped by
Rs 100-300/MT
Comment By
Manufacturer, Raipur: “All the steel companies are heavily
dependent on the Bellary, Chitradurga and Tumkur districts for iron ore. The
industry has already cut production due to iron ore shortages. Coal imports are
also a matter of worry for the steel mills because any rise in international
coal prices will directly affect them.”
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