“No major improvement in demand but low supply of steel grade Pig iron has pushed up prices this week.
Buying activities in foundry grade material continues to be weak.
Indian Pig iron (steel) prices have finally witnessed an upward movement, after being pulled down to quite low levels in the last couple of months.
In the beginning of the current week, Pig iron (steel grade) prices has moved up sharply, in the range of Rs 200-500/MT in Bokaro, Rourkela and Raipur.
Whereas, foundry grade is being traded at Rs 500/MT low in Raipur and Giridih, prices dropp slightly in Durgapur.
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