Tag: Vizag steel pooled iron auction result
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India: Bids drop INR 600/t at Vizag Steel’s pooled iron auction
State-owned steel producer Vizag Steel conducted a pooled iron auction on 2 Dec’21. Buyers booked the entire quantity of 2,700 t at INR 35,000/t exw. Bid prices decreased by INR 600/t compared with the previous auction on 18 Nov. Market sources informed that the company’s management may not clear the auction on higher price expectations.