India: SAIL-BSL's pig iron auction records steep INR 1,850/t correction in bids

SAIL-BSL conducted a pig iron auction for 10,500 t on 16 May26, comprising three lots of 3,500 t each. Only one lot was booked at INR 37,050/t exw, while the remaining 7,000 t remained unsold and will be re-auctioned on 20 May'26. Bids declined sharply by INR 1,850/t compared to the previous auction on 8 Apr'26 where the entire 3,500 t were sold at INR 38,900/t exw, reflecting weak buying sentiment.