Tata Metaliks had floated a tender for one rake (around 2,200 t) of basic grade pig iron (Si 1%-1.15%) on 27 Aug’21. The tender received bids at INR 40,900/t – INR 900/t lower than the last tender that had been concluded at INR 41,800/t on 22 Jul’21 FoR Phillaur siding in Punjab, sources informed SteelMint.
Pig iron prices in major locations across India continue to soften on account of bearish demand on falling steel prices.
Steel grade pig iron prices in the domestic market has fallen by INR 300-1,000/t, w-o-w, as per SteelMint assessment.
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