A major foundry grade pig iron producer in western India floated a tender yesterday (8 Sept’21) for Punjab in north India, as per SteelMint reports. Market participants informed that the tender has been settled at around INR 43,400/t FoR Phillaur siding, Punjab.
- Current offers for second sale (through traders) are recorded at INR 44,200-44,400/t for Ludhiana and at INR 44,000-44,300/t for Delhi, on a delivered basis (including local freight costs).
- Sources expect pig iron supply to improve in the western and northern regions as export realisations are falling continuously and fresh bulk deals are absent by the major producers.
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