Tata Metaliks has started producing steel grade Pig iron and completed its first dispatch (around 2,000 to 2,500 tons) today, through rakes.
About 5,000 to 6,000 tons is the monthly output and is being traded at Rs 23,000/MT (Ex Kharagpur), confirmed a company official.
“We are operating (foundry) at 60-70% capacity as market is depressed and low demand from automobile sector has hit the industry, things look to improve March onwards.
We export around 800-1,000 tons (foundry) to Indonesia and Taiwan and concluded a deal (400 tons) with Bangladesh recently. Though, prices were not attractive, we had to get rid of stock”, he added.
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