Monthly average prices of steel grade pig iron in India dropped 5% m-o-m in September to INR 45,100/tonnes (t) from INR 47,400/t in August, as per SteelMint assessment. Prices have fallen even further to INR 44,800/t exw Durgapur (eastern India) in the beginning of October from highs of over INR 60,000/t seen in April. The decline has been especially sharp since the imposition of export duty on steel and raw materials towards the end of May.
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