Vedanta Resources, a western India-based major pig iron producer, has floated a tender for one rake of foundry grade material for the northern region. The tender received no bids despite the reduction in prices. The reserve price for this latest tender was reported at around INR 40,800/t ex-plant.
Falling steel prices weigh on the Indian pig iron market. Fresh offers of foundry grade reported at INR 46,200-46,300/t DAP Delhi, north India.
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