After the Supreme Court’s interim judgement on Odisha Iron ore mining, Pig iron prices have moved up.
Tata Metalliks raised its offers after 4 months to INR 28,700/MT (basic); improved by INR 700/MT from its previous price.
Major markets like Durgapur & Giridih witness price hike of INR 1,500/MT and are offering Steel grade at INR 27,500/MT and INR 28,000/MT (basic). As the market had accepted previous prices, manufacturers are increasing offers.
Currently, Rourkela is offering Pig iron at INR 25,800/MT (basic) , up by INR 2,050/MT. Before the judgement on Odisha Iron ore mining it offered at INR 23,750/MT (basic).
MMTC puts sale of Steel grade Pig iron (N1 grade with Si content up to 1.24%) on hold, which is effective from 21 May, 2014.
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