India: Tata Metaliks reduces basic grade pig iron price by INR 600/t ($8) for May

• Tata Metaliks Ltd (TML) has lowered its basic grade pig iron price by INR 600/t for May. The current offer for basic grade (Si 1-1.5%) pig iron stands at INR 39,500/t ($534).
• However, it has rolled over its foundry grade price for the month after increasing it sharply by INR 2,500/t in Apr’21. The current offer for foundry grade is at INR 42,000/t ($568).
• The prices are ex-plant, Kharagpur, Eastern India & are applicable for Kolkata & Howrah market

SteelMint learned that a major pig iron producer in Western India has shut down its one blast furnace due to shortage of liquid oxygen and lower domestic demand. Another leading foundry pig iron producer in the same region is also planning to cut production, market sources reported to SteelMint.