A major foundry grade pig iron producer in western India has floated a tender today for the Punjab/Delhi region, as per SteelMint. Market participants informed that there was no participation in the tender, as the reserve price stood high at around INR 41,000/t exw. The landed cost in the northern region would be around INR 44,500/t (FoR siding), while the current offers for second sale (through resellers) are recorded at INR 43,700-43,800/t for Ludhiana and at INR 44,800-45,000/t for Delhi, on a delivered basis (including local freight costs). Earlier, SteelMint had reported an eastern India mill concluding one rake of foundry grade pig iron at INR 43,000/t delivered to the Phillaur siding in Punjab.
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