Pig Iron prices pulled down by RINL for the 2nd time in Dec 12

Rashtriya Ispat Nigam Limited (RINL) reduced steel grade Pig Iron prices by Rs 500/MT for the second time in December (earlier on 19th Dec).

“The company is holding inventory in huge quantity at the moment, which is a total of 1,25,000 tons of Pig Iron.

Hence, we are offering the material at Rs 22,500/MT with discounts up to Rs 300/MT and are expecting domestic demand to get better at lower prices.

Pig Iron open tender floated in domestic market fetched bids at Rs 21,000 and the company is to take a decision on it by evening”, a senior official at RINL shared with SteelMint.