SAIL offered 30,000 MT of pig iron in domestic market on 2 Dec’15 through e-auction from its Rourkela plant. The auction had expired on 4 Dec’15.
As per market participants, about 3,900 MT basic grade pig iron was sold in the auction. The material was booked at INR 14,400/MT, ex- Rourkela plant, which was far less than the going price in market. The rest remain unsold.
It will be interesting to watch, if the deal, which had concluded at such a low level will set new low benchmarks in Indian pig iron market. Prices of few another primary pig iron manufacturers like MMTC are in the range of INR 14,800-15,200/ MT and of RINL are INR 15,000-16,200/MT. Out of these two offers, one is about to expire on 14 Dec’15.
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