India: Vedanta hikes foundry pig iron price by INR 3,300 ($45)

Vedanta Resources, India’s major foundry grade pig iron producers has sharply raised foundry grade pig iron price by INR 3,300/t, sources have reported SteelMint. Current offers stand at INR 40,500/t DAP Gujarat. Supply tightness along with rising prices of substitute products & raw material are the key factors behind price rally. Notably the company’s one of the big blast furnaces (BF) is shut down for maintenance purpose since Nov-end which has impacted monthly production of about 40,000 t. The BF is likely to resume operations in Feb’21, as per sources.