Temporary shutdown of blast furnaces at a couple of plants in Durgapur have resulted in a supply crunch of pig iron in the spot market, resulting in price hike, SteelMint heard. The major suppliers of pig iron – Kajaria Iron & Jai Balaji Industries, are heard to have held their offers of pig iron, while remaining plants have raised offers by INR 500-700/t (d-o-d) to INR 28,000-28,200/t exw. Sources believe prices to remain supported as supply shortage is expected to continue in the coming short term.
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