India: Bids fall by INR 1,500/t at pig iron auction by Bokaro-based mill

A Bokaro, Jharkhand-based private mill conducted an auction for 4,000 t of steel grade pig iron on 22 Nov’21. The auction concluded at around INR 39,000-39,300/t ex-plant. The bids fell compared to an earlier auction for 3,500 t on 18 Nov, which had concluded at close to INR 40,500/t.

Falling steel prices continue to weigh on domestic pig iron prices.