“We sold 10,300 tons of Pig Iron in September and around 10,300 to 11,000 tons of Pig is being sold on a monthly basis”, shared a senior official at a Chennai based private company.
Demand should be good as prices have bottomed out. Vizag Steel reduced offers the day before due to low prices in international market.
Steel grade demand in India was weak as buyers were hopeful of some correction in prices. They should start new purchases and Pig Iron market might be better in the mid of this month, he added.
A couple of Pig Iron manufacturing plants in Durgapur have closed bookings due to production cut and shortage of material.
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