Steel major – SAIL held an auction for 10,700 t (steel grade) pig iron from the Bhilai Steel Plant (BSP) on 20 Jan’21. Out of the total offered quantity, buyers booked only 8,250 t at a weighted average price of INR 32,200/t exw which is lower by INR 3,400/t from the previous pig iron auction from BSP conducted on 09 Jan’21. Bids have come down due to a significant decline in domestic billet prices and price drop in other substitute products.
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