India: SAIL-RSP pig iron auction witnesses sharp drop in bookings; bids ease by INR 50/t
SAIL-RSP auctioned 5,000 t of steel-grade pig iron on 10 Jun’26, with only 1,100 t of the offered quantity booked at an average price of INR 37,100/t exw. Bids declined marginally by INR 50/t from the previous auction held on 2 Jun’26. In the earlier auction, the entire 3,400 t offered quantity was booked at INR 37,150/t exw. The sharp decline in booking volumes despite largely stable prices indicates cautious procurement activity and persistent pressure on pig iron demand.
