Government-owned steelmaker SAIL had scheduled an auction for 1,000 t of basic grade pig iron from the Durgapur Steel Plant in West Bengal today. Bids at the auction decreased by INR 300/t, with the entire quantity getting booked at a weighted average price of INR 38,150/t, exw. At the previous auction on 30 Jul, the entire quantity of 800 t of pig iron was booked at a weighted average price of INR 38,450/t exw, as per SteelMint reports. Bid prices had edged up by INR 2,850/t ($38) compared to the previous auction on 9 Jul.
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