Leading state-owned long steel producer, Vizag Steel, conducted an auction for 1,500 t of basic grade pig iron on 1 Oct’21. As per sources, the entire quantity was booked at INR 43,550/t exw. As per SteelMint reports, the steelmaker’s previous pig iron auction conducted on 24 Sep for the same quantity had closed without a single bid due to the higher base price.
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