At Vizag Steel’s pooled iron auction held on 22 May’21, the entire material (2,100 t) had fetched bids at INR 34,500/t, exw. However, the auction did not receive approval from the company’s management and has been rescheduled on 26 May’21 for a total quantity of 2,400 t. At the previous auction held on 15 May’21 for an exactly similar quantity, bids fell by INR 250/t. The auction closed at INR 36,200/t, ex-works, as per SteelMint reports.
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