India: Vedanta concludes pig iron tender for Punjab

Vedanta Resources floated a tender for one rake of semi-foundry grade pig iron (Si 1.5-2.0%) for north India yesterday. The tender concluded at around INR 39,500/t exw, equivalent to INR 43,000/t delivered to siding in Punjab.

• Fresh offers for foundry grade pig iron (Si 2-3%) are at INR 45,600-45,800/t and for steel grade (Si up to 1.25%) at INR 41,700-41,900/t, delivered to Ludhiana (including local freight).