India: Vedanta’s pig iron tender receives bid higher by INR 700/t

Vedanta Resources, one of the major Indian pig iron producers has concluded auction on 21 Oct’20 for 4,350 t foundry grade pig iron for Punjab (northern India). Market sources have reported SteelMint that bid price was around INR 31,000/t exw (equivalent to INR 34,600-700/t FoR Phillaur). Bids have increased by INR 700/t compared to its last auction held on 12 Oct’20.