India: NMDC's latest pig iron auction records INR 300/t price decline

Booked volume moderates to 44% in latest auction from 54% previously. Lower input costs, softer alternative metallics prices weigh on pig iron

NMDC conducted a pig iron auction on 2 November 2026, offering 2,500 t, of which 1,100 t were booked at a base price of INR 40,000/t ex-works, indicating a booking rate of 44%. In the previous auction held on 27 October, 2,700 t out of 5,000 t offered were