Tata Metaliks Ltd (TML) has further raised the basic (steel) grade pig iron price by INR 600/t for the third time in Jan’21. Previously, the first hike was made on 1st Jan by INR 1,500/t which was again raised by INR 300/t. The current offer of basic grade pig iron stands at INR 37,400/t ($510), however the company has kept foundry grade pig iron price unchanged at INR 39,900/t ($545), ex-plant, Kharagpur, eastern India. As per market sources, pig iron demand is active on account of higher global scrap prices.
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