“Rashtriya Ispat Nigam Limited (RINL), one of the largest exporter of Pig Iron based in India is expected to fetch lower bids for its export tender of 30,000 tonnes of steel grade by the end of this month”, say industry experts.
“Markets have been sluggish all across the globe, there are much cheaper offers from Russia and Ukraine. Certainly, bids will be much lower from last offers”, said an industry veteran based in New Delhi.
Also, domestic demand is not very encouraging, I will not be surprised if they cut prices for domestic players as well, he further added.
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