India: Tata Metaliks’s pig iron tender fetches slightly low bids – Sources

Tata Metaliks had floated a domestic tender for one rake (around 2,200 t) of foundry grade pig iron on 31 May’21. The tender received bids at around INR 43,000-43,200/t, FoR Phillaur, Punjab.

• Earlier, Vedanta Resources reportedly received bids for a rake at around INR 43,600-800/t, FoR Punjab, after the company floated a tender in mid-May’21. However, the tender was later cancelled.
• The spot price of foundry grade pig iron in Ludhiana (Punjab) is hovering at INR 43,600-800/t, FoR. Sources expect pig iron prices to remain volatile amidst fluctuations in steel prices.