Tata Metaliks floated a tender for one rake (around 2,200 t) of basic grade pig iron (Si 1-1.15%) on 8 Jun’21. The tender has been concluded at around INR 42,000/t, FoR Phillaur, Punjab, sources informed SteelMint. The company had earlier received bids for a rake of foundry grade pig iron at INR 43,000-43,200/t, FoR Phillaur, against a tender floated on 31 May. The spot price of foundry grade pig iron in Punjab (Ludhiana) remains volatile and recorded an INR 300/t drop today to INR 44,600-800/t, FoR.
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