India’s steel-grade pig iron prices sank to a four-year low in Durgapur in May 2025. Price tags plunged INR 2,200/t m-o-m to a monthly average of INR 32,900/tonne (t) exw-Durgapur, with similar values last recorded in February 2021 (INR 33,000/t) – just as the market was recovering from the COVID-19-led downturn. In recent times, pig iron tags have faced mounting pressure from a number of quarters, foremost of which is the steady downtrend in the finished market. Due to this, while capacity expansions have accelerated, demand growth has been slack.
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