RINL, Vizag has lowered steel grade Pig Iron price by Rs 500/MT to Rs 23,000/MT (Basic) w.e.f from Dec 19 on account of low sales in domestic market and uninterested buyers in international market.
Jayaswal Neco Industries Limited at Raipur is likely to reduce prices on Dec 20.
Secondary Pig Iron producers are expected to cut offers further, that have been reduced by:
Raipur Steel Rs 200/MT for steel and foundry grade
Durgapur Rs 200/MT for steel grade
Rourkela Rs 300/MT for steel grade
Jharsuguda Rs 300/MT for steel grade
Chennai Rs 800/MT for steel and foundry grade.
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