The major producer of Pig Iron in India, NINL at Cuttack, Odisha quoted steel grade by Rs 500/MT less to Rs 24,500/MT (Basic price) for August '12.
It was heard that RINL at Vizag is offering some discount on bulk buying. Manufactures in Raipur, Chhattisgarh cut prices by Rs 300/MT for steel grade material.
Low production of Billets and ingots along with no improvement in sales of finished products, scarce availability of raw material, iron ore and reduced production resulted in downward trend of Pig Iron prices.
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