Merchant pig iron sale volumes by state-owned SAIL have been steadily increasing, as are prices. Bids at the yet-to-be-concluded latest Bhilai Steel Plant (BSP) auction shot up by INR 1,200/t to INR 30,000/t (weighted average price) for 10,000 t of material on offer compared to the last auction held on 3rd Nov’20 for 8,000 t sold at INR 28,800/t. SAIL has sold close to 0.2 mn t pig iron since Jun’20.
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