Thursday, February 02,
Pig iron prices seem to fluctuate in the domestic market. Market is quiet uncertain and not much changes are noticed in prices. Traders are expecting a rise in prices as other raw material prices are showing gradual increase. Transactions in ingot market are stable, market players believe that sudden rise in ingot prices might be reflected on pig iron prices.
With tight supply of Australian and Indonesian coal,prices of pig iron are unlikely to correct soon said manufacturers based in Chattisgarh and Orissa. Spot prices of imported coal have gone up drastically which has forced manufacturers to raise pig iron prices. Prices have rose by 8-10% in two weeks and hovering around $300/MT in spot market where as contract prices are $220/MT.
Comments by:
Trader, Raipur: “good time to purchase pig iron as prices have gone down a bit and movement in Ingot market is not so significant. Prices are expected to float for the next one month as supply of coal is constrained. “
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