Tata Metaliks has reduced basic grade pig iron prices by 3% or INR 1,200/t ($16) due to weak demand on a sharp decline in offers by private pig iron producers in Durgapur. Output curbs by secondary mills have put pressure on the Indian pig iron industry.
- Fresh offers for basic grade pig iron (Si 1-1.5%) floated by the company stand at INR 38,000/t. Meanwhile, foundry pig iron offers remain unchanged at INR 42,400/t. Prices are exw-Kharagpur and applicable for the Kolkata and Howrah markets.
- Steel grade pig iron offers by Durgapur plants are in the range of INR 36,000-36,500/t exw – a decline of INR 1,500/t on week, as per SteelMint assessment.
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