Pig iron prices in India looks to have bottomed out – Mesco Steel      

“I foresee Pig Iron prices that have touched quite low levels, gaining strength by around Rs 1,000/MT after a couple of weeks.

Rising Pig iron and scrap prices on international platform might support domestic prices”, said Mr. Raj Kedia, Chief General Manager at Mesco Steel, Kolkata, West Bengal.

“Exports market improved after months, demand has grown by 7-8% from secondary steel makers and international scrap offers moved up by $10-15/MT in last fortnight.

This will result in a reversed market scenario, creating a gap in demand (high) and supply (low) of Pig Iron”, he added.

(Updated)