- Only 50% of offered volume booked as buyers remain cautious
- Minor price hike can be attributed to strong exports, tight supply
SAIL-Bokaro Steel Plant (BSL) auctioned 14,000 t of steel-grade pig iron on 10 July 2026, with only 7,000 t (50%) of the offered quantity sold at an average price of INR 36,500/t exw. The average bid price improved marginally by INR 100/t from the previous auction held on 24 June, when the entire 14,000 t was sold at INR 36,400/t exw. In the latest auction, only two of the four rakes on offer were booked, reflecting restrained buying despite the slight price increase.
Market participants said buyers remained cautious as finished steel demand in the eastern region continued to lack momentum, prompting mills and foundries to procure pig iron only against immediate production requirements. The marginal rise in auction prices was supported more by sellers’ firm pricing stance than by any meaningful improvement in demand fundamentals. Prices were also supported due to export activity and limited material availability in the market.
In the Bokaro-Jharkhand belt, procurement activity has remained measured. Sellers noted that buyers were reluctant to build inventories, preferring to wait for clearer demand signals before committing to larger volumes. The partial allocation in the latest auction suggests that current price levels are meeting resistance from consumers, even as producers attempt to maintain realisations.
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