India: NMDC pig iron auction prices ease further; buying interest dips
NMDC's Nagarnar Steel Plant auctioned 15,000 t of steel-grade pig iron on 26 May26, of which 3,500 t were successfully booked at a base price of INR 36,700/t exw. Bid prices declined by INR 550/t compared to the previous auction on 15 May'26 where full volume of 10,00o t were booked at INR 37,250 t exw. The lower booking volumes indicate cautious buying sentiment amid weakening market fundamentals and price resistance from buyers.