India: Vedanta’s pig iron tender for north India fails to attract participation

Major pig iron producer Vedanta Resources has floated a tender for one rake of foundry grade material for the northern region (Punjab/Delhi) today. The tender received no participation. The reserve price was around INR 40,700/t exw and the transportation cost via rake to is around INR 3,500/t.

• Offers through the traders for foundry grade pig iron stood at INR 45,300-500/t in Ludhiana and INR 45,600-800/t in Delhi, on delivered basis (including local freight).