Competitive market for Pig iron (foundry) quality and pricing, low demand than that of steel grade material and stock position of around 22,000 tons at the moment from two of its blast furnaces resulted in free fall of prices at Tata Metaliks.
The company will now charge Rs 27,400/MT (Ex works Kharagpur in West Bengal) to its customers for February trades in foundry grade Pig iron, a sharp drop of Rs 700/MT as compared to previous quotes of Rs 28,100/MT.
Neo Metaliks Ltd has pulled down its February Pig iron prices for the same grade by Rs 500/MT to Rs 26,500/MT (basic).
Rashmi Metaliks Ltd cut prices by Rs 200/MT to Rs 26,300/MT.
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