Leading state-owned long steel producer, Vizag Steel, conducted an auction for 2,250 t of basic grade pig iron on 21 Sep’21. As per sources, the entire quantity was booked at INR 38,600/t exw. At the previous auction conducted on 16 Sep, the bid price stood at INR 38,100/t. However, all the lots were rejected by the company’s management on higher price expectations.
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