- SAIL-RSP sees weak auction offtake, with only 50% booked
- Subdued downstream demand continues to limit procurement interest.
SAIL-Rourkela Steel Plant (RSP) conducted a pig iron auction on 14 August, witnessing weaker participation compared with the previous auction held on 8 August. Against the scheduled quantity of 5,000 t, only 50% that is 2,500 t of the material was booked at an average price of INR 37,550/t, down INR 50/t from INR 37,600/t in the previous auction, where the entire 3,300 t offered was booked.
Buying interest remains moderate
The auction outcome reflects subdued demand prevailing in the market, with participation remaining limited and booking activity moderate at the prevailing price levels. Buyers continued to adopt a cautious approach amid weak downstream demand, restricting procurement despite relatively stable pig iron prices.
The auction also suggests that buyers are becoming more selective, preferring need-based purchases rather than aggressive stocking. With only half of the offered quantity booked, the response remains relatively subdued compared with the previous auction, indicating limited urgency in the market.
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