India: Tata Metaliks reduces pig iron prices by up to INR 1,800/t ($23/t)

Tata Metaliks has reduced basic grade pig iron prices by INR 1,800/t and foundry grade prices by INR 1,500/t for September orders. Fresh offers-

• Foundry grade: INR 51,200/t
• Basic grade (Si 1.0-1.5%): INR 47,900/t.
• Prices are exw-Kharagpur and applicable for Kolkata and Howrah.

The decline in offers by other producers and fall in bids in recent SAIL auctions were the key reasons behind the price cut.