Tata Metaliks has reduced pig iron prices by INR 900-1,000/t ($13-14/t), or around 2.3%, due to falling steel prices in the domestic market, which has weighed on Indian pig iron prices as offtake remains poor since the second half of Aug’21.
- Fresh offers for foundry grade pig iron are reported at INR 41,900/t, down INR 1,000/t, while the company’s offer for basic grade pig iron stands at INR 39,200/t, down INR 900/t. Prices are exw-Kharagpur and applicable for the Kolkata and Howrah markets.
- Trade participants are expecting Indian pig iron prices to remain under pressure on account of sluggish demand as prices of other substitute products are also falling globally due to the downtrend in steel prices.
Leave a Reply