Tata Metaliks Ltd (TML), a major Indian pig iron producer, has concluded a tender for a rake (2,200 t) of basic grade pig iron (Si 1.25-1.5%) at around INR 40,650/t FoR Phillaur (Punjab) siding. Earlier, during the first week of April, the company had concluded one rake foundry pig iron tender at around INR 44,500/t FoR Punjab. Pig iron prices in Indian domestic market fell slightly due to decline in steel prices & lower steel production. The current spot trade price of foundry grade pig iron is reported at INR 44,300-500/t FoR Ludhiana, Punjab, down by INR 500/t, w-o-w.
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