An Indian steel mill has recently concluded an export tender for 40,000 t of basic grade pig iron for Jul’21 shipment. The deal was heard concluded at around $560/t, FoB, for a non-Chinese destination, according to market sources. Domestic pig iron prices in India have moved down amid declining billet offers. SteelMint’ assessment for steel grade pig iron has fallen by INR 500/t w-o-w to INR 39,500/t, exw Durgapur. Indian pig iron exports rose sharply by 169% in FY’21 to 1.03 mn t, with JSPL, JSW Steel, Vedanta and RINL being the key exporters.
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