Leading state-owned steel producer, Vizag Steel, conducted an auction for 1,000 t of basic grade pig iron on 8 Dec’21. Buyers booked the entire quantity at a weighted average price of INR 37,000/t exw, sources informed. At the steelmaker’s previous pig iron auction conducted on 17 Nov, buyers booked only 250 t out of 1,000 t on offer at INR 40,500/t exw.
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