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

Vedanta Resources floated a tender for one rake of foundry grade pig iron for the northern region (Punjab) today. The tender received no participation. The reserve price was at INR 44,000/t ex-siding, Phillaur, Ludhiana (Punjab).

• Offers through the traders for foundry grade pig iron stood at INR 44,000-44,200/t in Ludhiana and INR 44,100-44,200/t in Delhi, on delivered basis (including local freight).