Tata Metaliks Ltd (TML) has cut pig iron prices for the 1st time after continuous hikes since Aug’20. The current price reduction is about INR 1,900/t (5%) for foundry grade pig iron & the fresh offers stand at INR 38,000/t. Also, the price of basic grade pig iron has been lowered this week to INR 36,200/t. These prices are on ex-plant, Kharagpur basis & are applicable for Howrah & Kolkata market. As per market sources, pig iron demand is weak since the last couple of weeks due to falling steel & scrap prices globally.
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