Wednesday, March 16,
Domestic pig iron market looks dull.* Prices may fall as trading activities remained low. Despite of good transactions in ingot market, pig iron market seems to be driven by weak demand which may bring the prices down. Sellers are also cautious and are reluctant to reduce prices. Also, anticipated fall in iron ore and coal prices in the domestic market may pull down its prices. Iron ore and Coal are the key raw material used in manufacturing Pig iron.
Long term contracts of Coal in April were expected to be around $330 which now because of Japan’s situation may not be the case as demand from Japanese mills will reduce to a large extent.
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