Foundry grade Pig Iron supply and demand mismatch has always been there in Indian market.
Manufacturers avoid producing any large quantity to keep away from extra inventory and also as demand has not improved in a major way for quite sometime.
“Offers have been reduced by Rs 300/MT and are quoted in the range of Rs 28,200-300/MT (Basic) looking at dull markets”, said a senior official at Neo Metaliks Ltd based in Durgapur, West Bengal.
Some of the users are now looking for substitutes to replace buying of foundry grade Pig Iron which is quoted up to Rs 3,000/MT more in comparison to prices of steel grade.
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