It was a bad week for Pig Iron market, both steel and foundry grade prices stabilize across the country.
Poor sales of finished steel products, rains, low quality and high priced iron ore, transportation issues due to monsoon impact market scenario.
In the start of next week
Pig Iron manufacturers across the country are expected to correct offers up to Rs 300/MT or more following the major producers such as NINL and RINL.
Export tender of RINL fetched maximum bid of $408/t FOB Vizag Port, much lower than current price i.e INR 25,000 in domestic market.
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