State-run Steel Authority of India Ltd (SAIL) conducted an auction for 5,700 t (2,850 t x 2 rakes) of pig iron on 16 Jun’21 from its Bokaro Steel Plant in Jharkhand. The company started the auction as per the last concluded price at the previous auction but was unable to attract buyers, as per sources. The auction closed without a single bid. At the previous auction on 9 Jun, out of four rakes, buyers booked three totalling 6,850 t of pig iron at INR 37,500/t, exw. The bid price had increased by INR 300/t, as per SteelMint reports.
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