State-owned SAIL conducted an auction for 4,000 t (two rakes) of basic grade pig iron on 1 Sept’21 from the Bokaro Steel Plant in Jharkhand. Buyers booked the entire quantity at INR 37,200/t exw, sources reported. Bids decreased by INR 1,000/t compared to the previous auction on 18 Aug for one rake, which had concluded at a weighted average price of INR 38,200/t exw, as per SteelMint reports. In another auction from IISCO Steel Plant two lots of around 1,000 t were booked at INR 37125/t exw. Bids dropped by INR 1,600/t against the last auction conducted on 18 Aug.
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