Steel grade Pig Iron price is stable at Rs 24,000/MT (Basic price) at Neelachal Ispat (India's largest Pig Iron producer) based in Cuttack (Odisha) from the beginning of September.
A senior official at NINL said that looking at the current market scenario, steel grade Pig Iron offers might be lowered by Rs 200/MT on the 5th of October.
Vizag Steel has already cut price by Rs 500/MT the last day and NINL is anticipated for the same. Hence, most of producers may follow the trend.
A major plant manufacturing foundry grade Pig Iron in Hyderabad has resumed production and is to start operating a new blast furnace.
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