Leading state-owned steel producer, Vizag Steel, conducted an auction for 1,250 t of basic grade pig iron on 9 May’22. Buyers booked the entire quantity at a weighted average price of INR 56,000/t exw, sources informed. At the steelmaker’s previous pig iron auction on 23 Apr, buyers booked only 500 t (two lots) out of 1,250 t at INR 59,050/t exw.
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