Private plants based in Durgapur have raised their steel grade pig iron offers by INR 500/t following strengthening billet prices as well as sufficient orders in hand. But the key factor is limited supply in the spot market including supplies by state-owned mills.
- Fresh offers by Neo Metaliks and Kajaria Iron (KIC) are assessed at INR 39,500/t as against INR 39,000/t on 14 Aug’21, exw-Durgapur.
- Prices are likely to remain strong in eastern India as spot supply has shrunk by almost 50% through a couple of Durgapur- and Jharkhand-based plants.
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