Pig iron (steel) makers are not very positive about demand in May and believe prices to be range bound as semi finished and finished market has not been very encouraging.
Though, an uptrend in prices in not foreseen, as sponge prices have dropped significantly, making it much cheaper than Pig iron.
There is limited room for correction too, due to restricted supply of iron ore.
Consumption of Pig iron is low during summer, mainly due to limited demand and less availability of labours.
Unlike, traditionally used to be, impact of monsoon would be less.
At Raipur and Jharsuguda, prices (steel) drop by Rs 300/MT and Rs 200/MT respectively.
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