Tata Metaliks Ltd (TML) has raised its foundry-grade and basic-grade pig iron price by INR 1,600/t and INR 1,800/t, respectively. The current offer for foundry-grade stands at INR 43,600/t ($595) and basic-grade (Si 1-1.5%) at INR 41,300/t ($564). The prices are ex-plant, Kharagpur, eastern India & are applicable for Kolkata & Howrah market. The company has raised prices following a sharp surge in pig iron prices by around INR 2,000-2,500/t by Eastern & Western India-based players in the last ten days, SteelMint understands. Higher export realisations as well as rising raw material prices are compelling Indian pig iron producers to keep prices strong.
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