Steel Authority of India (SAIL) will conduct an auction for around 1,000 t of steel grade pig iron (by road) on 1 Sept’21 from its IISCO Steel Plant at Burnpur in West Bengal. The reason behind limited allocation by SAIL is low realisations as against semis and finished steel products. At the previous auction on 18 Aug, buyers booked the entire quantity of 1,000 t at INR 38,700/t exw, sources informed SteelMint. Bid prices increased by INR 800/t ($10/t) compared with the earlier auction on 12 Aug, which had concluded at a weighted average price of INR 37,900/t exw.
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