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.