NINL and RINL, the major Pig Iron producers in India might not raise prices, standing at Rs 23,500/MT (Basic) for December as they are holding inventory in large quantities due to no exports deal finalized for around a couple of months.
Demand is weak from manufacturing units that are running at losses and government has not yet taken measures regarding projects.
Other Pig Iron manufacturers across the country might not hike offers too.
There are certain possibilities of Pig Iron exports during mid of December as dollar is high and imported scrap prices have moved up.
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