High inventory levels, poor demand from casting units which have kept production levels at either minimum capacity or on hold have hit Pig iron markets in China.
Prices of steel Pig iron are standing at Rs 2,780-2,820/MT (ex works prices for Tangshan city in China, which includes 17% VAT).
Prices might come down looking at the weak trades on account less cash flow in market and negative sentiments prevailing among buyers.
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