Vedanta Resources, India’s one of the major merchant pig iron producers has concluded a tender for two rakes (around 4,400 t) of foundry grade pig iron at around INR 37,700-800/t exw (equivalent to INR 41,300-400/t FoR Punjab), as per sources report to SteelMint. The prices dropped slightly as compared to the recent tender concluded by TATA Metaliks for one rake foundry pig iron at around INR 41,800/t FoR Punjab, held on 19th Mar’21. Pig iron prices in Indian market remained volatile due to fluctuating steel prices along with active exports. Current spot trades of foundry grade pig iron are hovering at INR 42,500-700/t FoR Ludhiana, Punjab.
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