SAIL conducted an auction for 1,000 t of basic grade pig iron on 9 Jun’22 from its IISCO Steel Plant. Buyers booked two lots (250 t each) at INR 40,000/t and 40,750/t exw, while another lot of 500 t material was booked at 38,000/t exw. However, approval is pending from the company’s management. The company’s previous auction on 7 Jun for the same quantity and quality of material had closed without a single bid being placed due to the high base price of INR 47,000/t.
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