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Indian pig iron prices hit nearly 5-month low, further fall likely

ABSTRACT

Subdued demand, bearish sentiments pull down prices. 15% duty puts a damper on exports. Sluggish steel sales keep pig iron demand lower. Sponge iron, scrap prices also down. Sluggishness in pig iron market to continue.
  Morning Brief: Indian domestic pig iron prices have been under pressure due to seasonally weak demand, falling sponge iron and scrap (substitute products) prices and drop in export realisations.   Steel-grade pig iron prices have fallen to a 5-month low, SteelMint's assessment shows. Prices in Durgapur were assessed at INR 44,300/t exw on

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