Government-owned steelmaker SAIL had scheduled an auction for 5,700 t (two rakes) basic grade pig iron today from Bokaro Steel Plant, Jharkhand. According to market sources, the auction failed to attract participation due to the high base price, which was set at INR 39,000/t, exw. The previous auction on 12 May’21 for one rake of pig iron was concluded at INR 39,150/t, exw. In another auction from its Durgapur plant (DSP), the entire quantity of 3,000t of pig iron was booked at a weighted average price of INR 38,300/t, exw.
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