A major pig iron producer in western India has floated a tender yesterday (20 Sep) for the basic grade (Si 1.2-1.5%) material for the Punjab region, as per SteelMint reports. Bids dropped by INR 300/t compared to the previous tender which was held on 15 Sep. Bids received in this tender was at around INR 39,300/t exw, equivalent to INR 42,800/t delivered to siding in Ludhiana, market participants informed. Meanwhile, current offers for second sale (through traders) are at INR 43,000-43,200/t for steel grade, INR 43,700-43,800/t for basic grade and INR 46,300-46,500/t for foundry grade, delivered to Ludhiana (including local freight costs).
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