Indian Pig iron makers have maintained offers in last few days that look to have bottomed out.
“Industry is surviving at break even and further drop will result in an only option left out for plants i.e. to take a shut down”, said a major producer of Pig iron in Odisha.
Pig iron producers in Durgapur (West Bengal) have reduced prices continuously that have touched quite low levels in a week's time.
Both steel (Rs 23,000-23,000/MT) and foundry grade (Rs 26,500-28,100/MT) material are being traded at Rs 800/MT low.
NINL's February Pig iron prices might gain Rs 500/MT and its current stock position is around 80,000 tons.
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