Pig iron prices in Ludhiana (Punjab) rallied on account of supply shortage and rising billet prices. Another key factor was hike in SAIL’s pig iron auction, held on 25 Jul’20 from RSP & BSL in which bids moved up by INR 1,500/t. Fresh offers of steel grade reported at INR 28,800-29,000/t & foundry grade at INR 31,500-700/t EXW-Ludhiana, higher by INR 1,400/t & INR 500-700/t, respectively.
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