With falling imports of ferrous scrap in Indian market (on customs duty and falling Indian Rupee against USD), pig iron manufacturers have not hesitated raising their offers, despite decent demand and low steel prices.
Pig iron index which signifies the movement of pig iron in domestic market have moved up by 83-85 points in last 1 month. Index is assessed on ex Cuttack prices basis.
Current offers are varying in the range of Rs 23,000-24,800/t Ex Works for steel grade.
Leave a Reply