Foundry grade Pig iron market is witnessing mixed response in different region of the nation. Some of the manufacturers have raised offers for foundry, observing into slight improved demand, whereas other maintained offers witnessing low or stable demand.

As per the traders, sentiments of Pig iron market is still not clear, as month is coming to its end. According to them, market sentiments could be better understood with the change in prices made by manufacturers in the beginning of February as per the demand.

[su_quote]Chennai based manufacturer told,The supply of material here is low, as per the market’s demand, so we have revised our prices to INR 28,000/MT (basic). Earlier prices here were hovering at INR 27,500/MT, rise by INR 500/MT.[/su_quote]

[su_quote]On the other hand, a manufacturer based in Hyderabad shared with SteelMint, “We are maintaining the offers at same level, still demand is low in the market”[/su_quote]

Prices offered in Hyderabad are hovering at INR 28,000/MT (basic) for Foundry grade.

[su_quote]Demand in Maharashtra is stable and we are continuing offers for Foundry grade at same prices, that’s INR 29,500/MT (including freight), said Pig iron manufacturers at Kolhapur.[/su_quote]

Similarly, the demands with the offer prices remain stable in Giridih to INR 25,500/MT (basic), whereas prices of Steel grade improved by INR 200/MT to INR 24,400/MT (basic).

In Raipur, Foundry grade prices improved by INR 800/MT to INR 27,800/MT (basic). 

Current Foundry Grade Pig Iron Prices across Indian Market

*Incl freight only

In Cuttack, Steel grade Pig iron prices improved by INR 500/MT to INR 24,000/MT (basic) owing to slight rise in demand.