India: NMDC Nagarnar's pig iron auction sees nil bids amid weak finished steel demand
On 12 Nov'24, NMDC's Nagarnar steel plant conducted an auction for 30,000 t of steel-grade pig iron at a base price of INR 34,000/t. However, no bids were received due to weak finished steel demand and low price viability. In the previous auction, on 7 Nov 2024, 15,000 t were booked at an average price of INR 34,000/t.