Tata Metaliks had floated a tender for one rake of foundry grade pig iron on 6 Oct’21. The tender received bids at around INR 48,600/t, higher by INR 1,600/t against the earlier tender on 1 Oct, which had received bids at around INR 47,300/t FOR Phillaur siding in Punjab. Domestic pig iron prices are heading north on higher input costs and active seasonal demand, SteelMint notes. Current offers for second sale (through traders) are recorded at INR 48,700-48,900/t delivered basis on Ludhiana.
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