India: Vedanta’s pig iron auction receives bid lower by INR 600/t ($8) – sources

Vedanta Resources, one of the major Indian pig iron producers has concluded an auction for 1 rake (2,170 t) foundry grade pig iron for northern India. The bid price was around INR 30,400/t exw, down by INR 600/t compared to its previous auction, market sources reported to SteelMint. Decline in billet prices resulted in lower bids for pig iron auction.