Indian domestic pig iron prices show no changes amid weak market conditions

Indian domestic pig iron prices have remained unchanged in the past one week at around INR 22,500/mt ($414/mt) ex-works, traders said on Monday, April 1.
 
"Local pig iron market has remained lethargic and without any direction as demand-supply dynamics is weak," said a Kolkata-based trader.
 
"Some producers like Neelachal Ispat Nigam Limited (NINL) announced that it will begin new pig iron domestic sales this week. This may put pressure on prices with more higher supplies," the trader added.
 
Foundries in southern India continued to operate at lower capacities in face of power shortages and therefore they have reduced their pig iron volume bookings drastically, several traders told SteelOrbis.
 
Discounts of up to $2-5/mt are being offered by traders in Durgapur in eastern India and Raipur in central India, the traders said.