Pig Iron market in India is quite dull. Ingot prices are also on lower side impacting Pig Iron prices.
Already, plants in states like Andra Pradesh, Chhattisgarh and Goa have stopped production looking at market conditions.
Traders at Raipur, Chhattisgarh are offering discount of Rs 200/MT on bulk purchases of Pig Iron.
Buyers are reluctant to take RINL material on rumor of low price in near term.
Few of the plants are not selling Steel Grade Pig Iron as buyers loose interest at current offers.
Market participants are not hopeful of any exports in near term and don't have much to say on unchanged scenario.
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