Foundry grade Pig iron market holds different sentiments in different market of India.

Few manufacturers have raised their offers observing the good demand & high production cost. Whereas, others have kept their offers unchanged, describing stable or low demand in the market.

Prices in Durgapur for foundry grade is offered at INR 27,000/MT (basic) by few manufacturers, but material is asked at INR 26,800/MT. “The manufacturers are even selling it at the asked price, seeing the bulk purchase”, shared a trader in Durgapur.

Steel grade offers in Durgapur is at INR 24,600-24,800/MT (basic) with a nominal rise of INR 150/MT from last week’s offer.

Koppal Pig iron prices remain stable for a while since August 2013, at INR 28,125/MT (basic) for foundry grade.

Opening of NINL price circular for N2 grade Pig iron leaves a great impact on Giridih’s Steel grade Pig iron prices which has steadily raised in last week but could not affect foundry grade offers.

Foundry grade there is currently offered at same level of INR 25,500-26,500/MT(basic) depending on Silica content.

A manufacturer at Mumbai  told, “We have raised our prices by INR 500/MT, in both the grades i.e steel as well as foundry. Iron ore prices have gone high; this made most of the major manufacturers raise their prices.”

Currently, prices at Mumbai for Foundry grade is offered at INR 28,000/MT (basic) and Steel grade is offered at INR 26,500/MT, but discounted to INR 26,250/MT (basic) at bulk purchases.

Raipur maintains its previous price for Foundry grade Pig iron at INR 27,800/MT (basic), revealing stable demand for Pig iron in market.