Govt-owned steel mill – SAIL conducted two auctions for total 4,000 t basic grade pig iron (2000 t each by road and rail) today from its IISCO Steel Plant, Burnpur. The 2,000 t pig iron (by road) was booked at a weighted average price of INR 37,000/t exw and 2,000 t (by rails) was booked at INR 36,800/t exw, sources reported to SteelMint. Bids fell by INR 1,000/t compared to the previous auction conducted on 22 Apr. The last auction for 1,400 t fetched bids at around INR 38,000/t exw.
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