Government-owned steel mill SAIL conducted two auctions for a total of 5,350 tonnes (t) of basic grade pig iron on 7 Jul’21 from its steel plants in Bokaro, Jharkhand and Burnpur, West Bengal. The entire quantity of 4,850 t (2 rakes) from Bokaro plant was booked at INR 35,100/t exw, sources reported. Bids fell by INR 1,600/t compared to the previous auction conducted on 23 Jun’21 for 4,000 t which was concluded at a weighted average price of INR 36,700/t exw, as per SteelMint reports. In another auction from IISCO Steel Plant for 500 t *, buyers booked one lot i.e. 500 t at INR 35,100/t exw. (*correction earlier quantity was mentioned as 1,000 t)
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