In Vizag Steel’s pooled iron auction held on 05 Jan’21, the entire material of 3,000 t was booked at INR 32,700/t ex-work, which is INR 2,400/t higher compared to the last auction conducted by the steelmaker for 4,500 t on 15 Dec’20. Prices have risen mainly on the back of elevated raw material prices amid supply concerns in the market.
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