Leading state-owned long steel producer, Vizag Steel, conducted an auction for 1,000 t of basic grade pig iron on 5 Feb’22. Buyers booked the entire quantity at a weighted average price of INR 47,000/t exw, sources informed SteelMint. At the steelmaker’s previous pig iron auction on 1 Feb 3,900 t of material had not received a single bid.
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