Leading state-owned long steel producer, Vizag Steel, conducted an auction for 2,400 t of basic grade pig iron on 6 Nov’21. Buyers booked the entire quantity at INR 42,850/t exw. Bid prices decreased by INR 2,250/t ($30) compared to the previous auction on 16 Oct. As per recent updates received from sources, the company’s management has approved the auction price.
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