SteelMint’s benchmark steel grade pig iron prices surged by INR 1,000/t ($14) in Durgapur & Jharkhand, eastern India due to supply shortage & active demand. Officials from Durgapur & Giridih based pig iron plants reported a daily production loss is about 700-800 t each due to maintenance shutdown of furnaces. This has led to a sharp surge in offers by remaining private producers. Also, sufficient trades have been reported for steel grade pig iron at INR 31,700-31,900/t exw Durgapur/Jharkhand.
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