Tata Metaliks Ltd (TML) has raised foundry grade pig iron offer by INR 4,100/t & basic (steel) grade offer by INR 3,300/t w.e.f. 14 Dec. The current offer of foundry grade pig iron is reported at INR 37,800/t ($514) & for low silicon (1-1.5%) pig iron is at INR 35,000/t ($476), ex-plant, Kharagpur, eastern India. This sharp increase in prices was due to increasing raw material costs along with strong demand amid supply shortage for the material. TML has a hot metal capacity of 550,000t p.a.
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