TATA Steel – India’s one of the largest steel producer conducted auction for around 3,000 MT steel grade pig iron today from its Bhushan Steel Plant based in Angul, Odisha (eastern India). The auction received quite good response on account of competitive base price.
As per sources, in today’s auction the company had kept base price at around INR 22,350/MT (USD 315). However the auction fetched bid high by around INR 200/MT and the total allotted quantity of 3,000 MT was booked at INR 22,500-22,600/MT ex-plant, as stated by participants.
Sources mentioned that, due to competitive base price, the auction received good response. It should be noted that, yesterday pig iron auction conducted by SAIL from its Rourkela Steel Plant (RSP) in Odisha received mild response as out of allotted quantity near to 40% (600 MT) material was got booked at the offer base price of INR 24,000/MT (USD 338) ex-plant.
— Tata Steel is offering Ferroshots (granulated pig iron) at around INR 22,500/MT (USD 317) ex-plant, Kalinganagar in Odisha.
Tata Steel is an Indian multinational steel-making company and a subsidiary of the Tata Group.
Tata Steel has manufacturing units at Jamshedpur, Jharkhand and Kalinganagar, Odisha with production capacities of 10 MnT and 3 MnT, respectively. In FY19, the Company initiated a 5 MnT expansion project at Kalinganagar to enhance its cumulative capacity to 8 MnTPA. Also in FY19 Tata Steel acquired Bhushan Steel Limited.
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