Pig Iron prices were anticipated to show gains in the month of November but the reverse is being witnessed.
Steel grade Pig Iron offers fall up to Rs 300/MT following the correction considered by the major Indian player, RINL. Whereas, that of foundry grade is similar at October levels.
We have been seeing that plants are not making too many fluctuations in foundry grade Pig Iron offers, which is taking place due to its limited availability and decent requirement.
Steel grade prices have reduced almost every month as compared to foundry grade on account of stagnant demand and continuing raw material availability crisis.
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