India: NMDC Nagarnar's pig iron auction sees limited bookings at base price amid weak demand

On 3 Dec'24, NMDC's Nagarnar steel plant conducted an auction for 30,000 t of steel-grade pig iron at a base price of INR 31,000/t. However, only 5,000 t were booked at an average price of INR 31,000/t indicating subdued demand. In the previous auction, on 28 Nov'24, 4,000 t were booked at an average price of INR 31,000/t.