India: Bid price falls by INR 1,200/t at SAIL-RSP pig iron auction

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SAIL-Rourkela Steel Plant held an auction for 2,000 t of steel grade pig iron on 8 Aug’22. The entire quantity was booked at an average price of INR 45,642/t exw.
In the previous auction conducted on 3 Aug, the entire quantity (4,000 t) was booked at an average price of INR 46,821/t exw.
Bids have declined due to the decrease in steel and pig iron prices of the private plants. Pig iron prices in Durgapur fell by INR 1,300/t, w-o-w, as per SteelMint’s assessment.

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