Author: Manish Vasdev
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India: Dull Demand Keeps Domestic Pig Iron Offers Under Pressure
Weakening demand of finished products has lowered furnaces margins (conversion spread) which in turn has weakened buying interest of pig iron in Indian domestic market. Notably, the price gap (conversion) between pig iron & billet has narrowed down significantly and is currently evaluated at INR 3,000-3,500/MT (USD 42-50) in Raipur & Durgapur, which should be not…