Tata Metaliks has floated a tender for one rake (around 2,200 t) of basic grade pig iron (Si 1-1.15%) today. The tender received good response as it settled at around INR 41,800/t FoR Phillaur siding in Punjab, sources informed SteelMint. On 19 Jul, the company had raised prices for basic grade pig iron by INR 700/t for the Kolkata and Howrah markets.
Pig iron prices in major locations across India continued to rise on account of active demand and slight supply shortage due to subdued production by the state-owned mills. Steel grade pig iron prices in the domestic market rose by INR 1,000-1,200/t w-o-w, as per SteelMint assessment.
Leave a Reply