Vedanta Limited – a major pig iron producer in India, has increased its offer for foundry grade pig iron by INR 2,200/t. The current offer for the same stands at INR 42,700/t DAP Gujarat, effective from today (30 Dec ’20), reliable sources reported to SteelMint. This is the company’s fourth price hike announced in Dec ’20. Tight material availability and a hike in billet prices have resulted in an increase in pig iron prices. The company has pig iron capacity of 0.83 mn t pa.
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