PEC Ltd – A New Delhi based premier Indian International government owned trading company bid highest for RINL's 1 lac tons of domestic Pig iron open tender at Rs 21,400 (Ex works Vizag), the last day.
Secondary Pig iron producers in India are quite optimistic that Indian Pig iron prices should sustain at current levels as daily movement of stock is good and as sponge iron prices looks to rise by month end.
NINL might also lift domestic prices on Jan 21. Chances are high that its 60,000 tons exports tender might fetch high bids due to rise in scrap and Pig iron prices overseas, which would support Pig iron prices rise across India.
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