India: NMDC's pig iron auction sees muted response, buyer interest falls short of expectations

NMDC's 24,000-t pig iron auction on 19 Dec'24 saw a lukewarm response, with buyer interest falling short of expectations. Only one lot of 4,000 t received bids at INR 30,000/t, with management approval still pending. In the previous auction, on 16 Dec'24, only 3,000 t of 15,000 t were booked at an average price of INR 31,000/t.