“Indian pig iron prices remained stable;might correct marginally”- Traders

Indian pig iron prices remained unchanged for last few days on higher coal and iron ore prices, though market traders expect that prices might correct marginally on factors like

1. Revision of coal prices by Coal India (Will make domestic coal prices cheaper)

2. Strong Rupee (Which will make imports of coal cheaper)

3. Better availability of iron ore from Orissa and Karnataka

” Steel grade pig iron trading around Rs 27,500/t in Raipur, but market  anticipates prices to fall on weak steel demand and cheaper raw material.:” said a pig iron trader based in Raipur.