Steel major – SAIL held an auction for 10,700 t (steel grade) pig iron from Bhilai Steel Plant (BSP) on 20 Jan’21. Out of the total offered quantity, buyers had booked only 8,250 t at a weighted average price of INR 32,200/t exw , which was lower by INR 3,400/t from the previous pig iron auction conducted by BSP on 09 Jan’21. In the latest update received, SAIL has rejected all the pig iron lots in yesterday’s auction due to sharp decline in bid prices.
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