Pig Iron is a foundational input for steelmaking and castings. India has emerged as a top 5 global exporter, with Jamshedpur, Raipur, and Kandla acting as major supply hubs. Basic pig iron is used in BOF steel production, while foundry pig iron is preferred in precision casting.
Interesting Insight: Indian pig iron exports to the Middle East and Africa surged by 18% this quarter due to scrap shortages in those regions.
Steel manufacturers favor pig iron for consistent chemistry, especially in alloy steel production. Foundries in Europe and North America are turning to Indian suppliers for high-carbon, low-silicon variants.
Price Trend: Pig iron FOB India is trading at $430–$460/MT, with slight premium for foundry-grade material from Jamshedpur.