Indian domestic
pig iron prices have indicated a mixed trend during the past week, remaining stable at around INR 19,000/mt ($320/mt) ex-works in most regions, but showing a slight increase of INR 200/mt ($3/mt) in eastern
India, traders said on Tuesday, July 2
.
"The eastern region market around Kolkata has faced some supply shortages owing to transportation issues, enabling a few traders to marginal increase offers," said a Kolkata-based trader.
"However, this did not have any major impact on overall depressed demand and sentiments in the local
pig iron markets since most other markets in the southern and central regions showed little change in demand dynamics among users," the trader added.
According to the trader, a few foundries located in the outskirts of Kolkata were faced with shortages of
pig iron stocks amid bottlenecks in railway transportation, but this did not have any salutary and sustainable impact on prices.
Market sources said that there are no reports of any export tenders for June shipment pending from any of the leading producers and market expectations of exports diverting excess stocks from the local market have been disappointed, causing prices to remain depressed.