Bid price shoots up by INR 1,300/t in Vizag Steel’s pooled iron auction

At Vizag Steel’s pooled iron auction held on 4 Jun’21, the entire quantity of 4,800 t on offer was booked at INR 35,000/t, exw. The bid price increased by INR 1,300/t ($17) compared to the previous auction. In the previous pooled iron auction on 26 May for 2,400 t, bids fell by INR 2,500/t. The auction closed at INR 33,700/t, exw, as per SteelMint reports.