SAIL’s pig iron auction today for 12,600 MT steel grade pig iron from its Rourkela Steel plant (Eastern India) has unable to attract participants as almost all offered material remained unsold.
As per sources, the company had kept base prices unchanged at INR 27,500/MT ex-plant, which is similar to last auction held on 2nd May’19 for 7,850 MT.
As per them, only about 200 MT pig iron has been sold out in today’s auction at the base price, while remaining material remained unsold.
The reason behind the thin response stated by sources was high base price compared with offers from other manufacturers in neighbouring markets. Notably, the prices in surrounding markets are low compared to RSP’s auction base price.
The latest offers in Odisha (Eastern India) by MESCO Steels heard at INR 27,000-27,200/MT ex-Jajpur & Neelachal Ispat (NINL) was hovering at INR 27,000-27,400/MT ex-plant, Cuttack, which price circular expired on 7th May’19.
Steel Authority of India Ltd (SAIL), is India’s govt. owned steel maker has an annual installed capacity of over 21 MnT and produces all kind of steel products. The producer have its plants in across India except in Northern India.
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