TATA Metaliks Ltd (TML) has concluded a tender for a rake (around 2,200 t) of foundry grade pig iron at around INR 44,500/t FoR Punjab. The prices increased sharply against the previous tender held during the third week of Mar’21, which was settled at around INR 41,800/t FoR Punjab. Pig iron prices in Indian market continued rising following an increase in steel prices and active demand for exports. Currently, the spot trade price of foundry grade pig iron in Punjab is reported at INR 44,800-45,000/t FoR Ludhiana.
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