Monnet Ispat & Energy Limited (MIEL), having its manufacturing unit at Raigarh (Chhattisgarh), has started producing Basic grade Pig iron.
It is at present offering the material at Rs 24,000/MT (ex works Raigarh).
About 500 tons of the total quantity produced has been sold as most of the Pig iron manufactured is being used by the company for captive consumption.
Currently, the production process from a single Blast furnace is a trial phase only.
It might take a month or more for commercial Pig iron operations to start in full swing.
In future also, Monnet Ispat will use Pig iron for both self consumption and domestic sales.
In the state of Chhattisgarh, Jayaswal Neco was the only supplier of Pig iron.
Monnet Ispat has recently, in June, started manufacturing Pig iron in small quantities.
SteelMint Indian Pig iron (ex works Cuttack basis) index is at Rs 22,566.67/MT, down by Rs 266.66/MT W-o-W.
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