Indian buyers prefer Pooled iron over Pig Iron

On falling steel prices and squeezing margins, Indian buyers are looking to cut the cost of production by looking at cheaper raw materials.

Market sources report SteelMint that buyers are willing to purchase pooled iron (Grade Is 2062 Pg)  which is comparatively cheaper than Pig Iron.

“Currently, pooled iron is costing us Rs 25,300/t (Landed Raigarh) and pig iron costs us Rs 27,000-28,000/t (Landed Raigarh).

Pooled iron has low recovery but buyers are preferring to purchase it at the moment due to easy availability and low cost”, said a Raigarh based manufacturer.

Note: All prices are Basic, Excise duty extra