Leading state-owned long steel producer, Vizag Steel, conducted two auctions on 23 Mar’22 for around 6,400 t of steel grade pig iron. At the first auction, 3,900 t (one rake) of material was booked at a weighted average price of INR 54,250/t exw. In the second auction, 2,500 t of pig iron (by road) was booked at INR 55,400/t exw. However, approval of both the auctions is still pending from the company’s management.
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