India: Entire offered volume booked at NMDC's pig iron auction, prices decline by INR 500/t

NMDC's Nagarnar Steel Plant auctioned 12,000 t of steel-grade pig iron on 2 Jun'26, with the entire volume booked at a base price of INR 36,000/t exw. Bids fell by INR 500/t from the previous auction held on 29 May'26, where only 3,000 t out of the 12,000 t offered were sold at INR 36,500/t exw. Consumers likely leveraged the price correction to replenish inventories amid cautious market sentiment.