Indian Pig Iron Prices Under Pressure On Low Buying Interest

 Pig Iron prices remained stable for last few weeks but demand remains weak over falling steel prices.*

Pig  Iron prices in India hovering around 25500-26500 (Ex Works), manufacturers face a tough time as coking coal prices in International market are soaring high which increases their input cost and squeeze their margins.

In Raipur Jayswal Neco offered its Pig Iron at 26200 , where as Bhilai Steel plant kept its prices unchanged at 25800.

Untouched prices now come under pressure as demand for pig iron seems depressed. Producers are worried as no fresh buying results abrupt demand fall .Market players believe that now fluctuations noticed in ingot market would not leave much impact on prices and this demand plunge might hit pig iron stable prices and prices likely to decrease despite of tight supply of Australian coal.

Comments by :

Traders :–“no fresh buying ,clearing up old orders, not much impact of tepid ingot market on pig iron prices.”