Vedanta Resources, one of the major Indian pig iron producers has concluded a tender for a rake (2,176 t) of foundry grade pig iron at around INR 33,200/t exw, (equivalent to INR 36,700-37,000/t FoR Delhi/Punjab), market sources reported to SteelMint. The prices moved up by INR 1,000-1,200/t as during last week, TATA Metaliks concluded a tender for a rake of foundry grade pig iron at around INR 35,500-600/t FoR Punjab. The prices rose in today’s tender due to a surge in spot trade price of foundry pig iron by INR 900/t, d-o-d, to INR 38,300-500/t FoR Punjab.
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