There was no major activity seen in Pig iron market the entire week.
1. Both steel/foundry grade prices showed no movement as overall steel market is dull.
2. Bulk purchase of 10,000 tons steel grade material is being offered lower by Rs 700/MT (Rs 24,300/MT, Basic price) at RINL.
3. Plants in states like Chhattisgarh, Goa and AP did not re-start production.
4. Buyers for steel grade at Jharsuguda are not interested to place any orders.
5. Exporters prefer to watch markets and wait for higher international offers.
Sources expect some downward trend of prices the next week, unlike this one.
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