India: Bids rise by INR 650/t at SAIL-BSL pig iron auctions

SAIL held two auctions for steel grade pig iron on 13 July from Bokaro Steel Plant (BSL).

• At the first auction for 2,000 t (1 rake), buyers booked the entire quantity at INR 46,100/t exw.
• In another auction for 150 t (delivery by road), the entire quantity was booked at INR 46,200/t exw.

Bid prices increased by INR 650/t in both auctions compared to previous (two) auctions held on 6 July from the same plant for 4,000 t and 150 t respectively.