Pig Iron Prices Surge in East & North, Unaltered in Central & South India.
The Pig iron manufacturers in East India, Durgapur have increased prices approximately by INR 500/MT. The fresh prices by the producers are assessed at INR 20,800-21,000/MT.
A Trader in Durgapur stated “prices surge in line with bulk bookings in the last offer prices of INR 20,400-20,600/MT and rise in sponge & billet prices. Few deals have taken place at increased prices“ he added.
Similarly, in North India, Ludhiana, where the traders reported price hike for steel grade at INR 25,500-26,000/MT & foundry grade at INR 29,000-29,500/MT FOR. The last offer prices for the materials was at INR 25,000-25,500/MT & INR 28,500-29,000/MT, respectively.
In the respected markets, trade participants reported, better trade activities which was lull in the previous weeks. The reason behind is surge in semis i.e. sponge & billet prices as well rising scrap prices across the globe.
However, in Central & South India Pig iron prices are almost remained firm with marginal price change. The offer prices by traders in Raipur, Central India is assessed at INR 22,800-23,000/MT & in South India, Hyderabad it is evaluated at INR 23,000/MT FOR.
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