SAIL’s Rourkela Steel Plant concluded a 1,500 t of steel grade pig iron auction today. The average bid price stood at INR 38,475/t exw, as per latest reports. Prices have hit a 10-month low as the previous bottom of INR 37,950/t was seen at the 5 Jan’22 auction.
Indian pig iron prices are falling continuosly due to competitive imports and falling steel and scrap prices globally.
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