January 03, 2011,
SteelMint Exclusive
Pig Iron prices in India have gone up by Rs 500-700/MT after miners in Orissa announced hike in Iron ore prices by 4-5%. Pig Iron prices have gone up by 4-5%.
Bhillai Steel Plant (SAIL) had earlier implemented limited quantity sale and then closed sale for some time, is now quoting Pig iron at Rs 24,000/MT, whereas Jayaswal Neco and Jindal Steel based in Raipur and Raigarh respectively, have increased prices by Rs 500-700/MT.
Pig iron prices in Rourkela, Jharsugda, Tatanagar and Durgapur also increased by Rs 200-300/MT.
Most of the miners (NMDC, Essel, Rungta and KJS Ahluwalia) have hiked up their ore prices by Rs 300/MT (approx 4-5%). Other miners likely to follow suit and are expected to increase their ore prices in near term.
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