- Tight domestic availability on higher exports supports prices
- Latest auction witnesses increase in prices, offered volumes
NMDC’s Nagarnar Steel Plant auctioned 7,000 t of steel-grade pig iron on 9 July 2026, with the entire quantity sold at an average price of INR 36,500/t ex-works. The successful sale at a higher price reflected improved buyer participation despite the ongoing monsoon season.
This marked the second consecutive auction in which NMDC achieved a better realisation. In the previous auction held on 2 July, the company sold 6,000 t of steel-grade pig iron at an average price of INR 36,100/t ex-works. The latest auction recorded an INR 400/t increase in price, along with a 1,000 t rise in offered volume, indicating sustained buying interest.
The improved realisations across two successive auctions suggest that buyers are actively procuring pig iron despite the seasonal slowdown. Market participants attributed the stronger auction performance to tighter domestic availability, as export activity has reduced spot market supplies. The supply tightness encouraged buyers to secure material through NMDC’s auctions, resulting in stronger bids even during the monsoon season.
However, the broader domestic market remained moderate at a lower price level. Monsoon-related disruptions continued to slow construction activity and logistics, while finished steel demand remained weak. In Raipur, pig iron trading activity was limited as downstream buyers and mills restricted procurement to immediate requirements. Although spot market transactions remained thin, constrained pig iron availability supported stronger participation and better price realisation in NMDC’s auctions.
Leave a Reply