A western India-based pig iron producer has floated a tender for one rake of basic grade (Si 1.2-1.5%) material for Punjab. The tender received no bids despite the reduction in the reserve price by INR 1,300/t to INR 40,300/t compared to the previous tender in which the reserve price had been set at around INR 41,600/t ex-plant. Pig iron prices in Punjab and Delhi have fallen by INR 1,000/t, w-o-w.
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