India: Bid drops by INR 700/t at Vizag Steel’s pooled iron auction

At Vizag Steel’s pooled iron auction on 11 Jun’21, the entire quantity of 5,250 t on offer got booked at INR 34,300 /t, exw. The bid price decreased by INR 700/t compared to the previous auction. At the previous pooled iron auction for 4,800 t on 4 Jun, bids rose by INR 1,300/t. The auction closed at INR 35,000/t, exw, as per SteelMint reports.