“Demand for Pig Iron
is decent and prices are unexpected to fall as scrap is being traded at high
prices and prices of raw materials i.e. coal and iron ore is expected to show
gains.
Production of Pig Iron is also low across the country. Nilachal Ispat, Cuttack
is expected to quote its trading prices on Monday which might open high,” remarked
market players.
“Durgapur Pig Iron prices are unexpected to correct anytime soon
unless Ingot prices fall sharply. Plants in this region are not producing
Foundry Grade Pig Iron,” said a broker from Durgapur.
“Delhi Pig Iron prices have shot up after the end of March. Pig Iron
was trading at Rs 33,500/MT (Including all) before it increased by Rs 500/MT twice.
Demand is
expected to be decent with good buying and prices are anticipated to remain
stable for the next 15-20 days. Demand in the Northern region is expected to be
weak next month due to off season which would go up in June,” said a Delhi based trader.
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