- Full booking at stable INR 41,400/t signals firm buyer participation
- Cautious bidding keeps pig iron prices range-bound despite cost support
SAIL-Rourkela Steel Plant (RSP) conducted a pig iron auction on 7 October 2026, offering 5,000 tonnes, with the entire quantity booked at an average price of INR 41,400/t. The auction opened at INR 41,350/t, indicating a relatively firm start to the bidding process.
The average auction price remained stable compared with the previous auction held on 28 September, where 5,000 t was offered and the entire quantity was booked at an average INR 41,400/t. The unchanged price suggests that buyers continued to participate at prevailing elevated levels, although there was no significant upward movement in bids. Full quantity absorption reflects sustained buying interest and adequate requirement from market participants.
The stability in auction prices comes despite the recent firmness in finished steel and raw material markets, which has provided some cost support to pig iron producers. However, buyers appear to be maintaining a measured approach at current price levels, limiting scope for further price escalation.
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