Merchant pig iron major Vedanta Resources has kept offers unchanged for the Gujarat market and foundry grade material is being offered at INR 46,000/t, FoR Gujarat, as per sources. SteelMint’s assessment for pig iron in Ahmedabad is currently at INR 45,500-700/t, on FoR basis. Domestic pig iron prices are likely to remain strong due to the recent hike in iron ore prices, with input costs for merchant producers expected to surge. Steel grade pig iron offers in Durgapur today moved up by INR 1,300-1,500/t to INR 39,800-40,000/t, exw, due to the spurt in iron ore prices.
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