- SAIL-RSP auction sees full booking amid firm buyer participation
- Prices edge higher as tight supply supports market sentiment
SAIL-RSP’s pig iron auction held on 8 August reflected a significantly stronger market response compared with the previous auction on 5 August. Against the scheduled quantity of 3,300 t, the entire quantity was booked at an average price of INR 37,600/t, up INR 70/t from the previous auction. The auction opened at INR 37,065/t and bidding strengthened during the session, with closing bids at INR 37,565–37,665/t. The full booking indicates improved buyer participation and greater acceptance of prevailing price levels. This marks a clear improvement from 5 August, when only 1,700 t was booked against 5,000 t offered.
In contrast, SAIL-BSL’s pig iron auction held on the same day witnessed a completely different response. The auction opened at INR 35,960/t, but no bidding was recorded, leaving the entire 14,000 t quantity unsold. The divergence between RSP and BSL highlights selective buying interest and varying market acceptance across mills.
Overall, sentiment remains firm but uneven. Tight material availability and healthy export realisations continue to support sellers, while moderate domestic demand and cautious buying are limiting broader market participation.
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