Neelachal Ispat Nigam Ltd, India's one of the largest producer of steel grade Pig Iron cut offers by Rs 500/t for domestic buyers, current prices stand at Rs 24,500/t ($ 445/t) (Ex Cuttack, Odisha).
According to market participants, “Demand is not good and production of semi finished products like Ingot and Billet has come down due to weak buying in finished market which has impacted Pig Iron market scenario”.
Sources said that RINL has also reduced prices up to Rs 500/t and offers stand at Rs 24,500/t ($ 445/t) (Ex Vizag), though there is no official confirmation from the company.
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