Intel Details

India: Vizag Steel rejects pooled iron auction on higher price expectation

Melting Scrap
17 May 2022, 18:07 IST
Steel Mint Intel

State-owned steel producer Vizag Steel conducted an auction for 1,050 t of pooled iron on 17 May'22. The entire quantity was booked at INR 49,000/t exw, sources informed SteelMint. The bid price decreased by INR 3,500/t compared to the previous auction held on 4 May. As per recent updates received from sources, all the lots got rejected by the company's management on higher price expectations.

17 May 2022, 18:07 IST
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