Domestic Pig iron prices moved up
sharply at most of the mandis' on rising prices of Ingot, shortage of scrap and
sponge iron and high volatility in the value of Rupee against dollar. Area wise
market highlights are as follows:
Raipur: Steel grade
pig iron prices at Raipur moved up by Rs 500/MT on lower availability of scrap.
Raigarh: Jindal Steel based in Raigarh increased their prices
by Rs 500/MT last week. Some improvement was noticed in the demand as they
closed their booking last week at Rs 25,900/MT (ex-plant basic price)
Durgapur: Pig iron
prices of foundry grade remained stable despite of its limited availability as
buyers turned cautious. While steel grade pig iron prices moved by Rs
300/MT on a hike in sponge iron and ingot prices
Jamshedpur: High
volatility in the value to Rupee against Dollar & unavailability of scrap
and sponge iron have pushed up pig iron prices in the range of Rs 900-1000/MT for
both Steel and foundry grade.
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