Following NINL's price hike on the 9th and on less availability of the material, Pig iron (steel) offers strengthen in the range of Rs 200-800/MT at Odisha, Durgapur and Jharkhand.
“Though, buyers have come down in terms of volumes, but demand is fine, as 10-15% of this high carbon material is an important ingredient for the induction furnaces to manufacture ingot and billet.
NINL is looking to offer steel grade material for exports purposes, RINL has less stock, cement is expensive now and steel prices have starting increasing.
Hence, Pig iron prices have found support and should sustain at current levels”, remarked manufacturers.
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