Category Archives: Structure

India: SAIL BSP’s defective auction sees rise in bid prices by INR 750/t ($10)

Steel Authority of India Limited (SAIL) conducted an auction from its Chhattisgarh-based Bhilai Steel Plant (BSP) for defective steel products on 20 Jul’21. The auction fetched a better response on improved buying interest, sources said.

Around 14,237 tonnes (t) of defective steel was put up for auction, of which 88.36% of the material, equivalent to 12,581 t got sold.

Bid prices for blooms moved up by INR 750 /t and those for billets rose by INR 1,000/t against the previous auction conducted on 10 Jul’21.

SteelMint’s daily billet index was assessed at INR 42,200/t exw-Raipur, on 20 Jul’21, up by INR 1,200/t w-o-w. The index increased following active demand on prevailing optimistic sentiments globally along with slight supply shortage of ready for delivery material in the spot market.

Highlights of the auction:

Quantity in t
Price in INR/t on exw-Bhilai basis

For complete details of all other products, please click here =>BSP Auction Summary Auction Dated 20-July

 

India: Bids rise by INR 1,400/t at SAIL-BSP rails auction

State-owned Steel Authority of India Ltd (SAIL) conducted an auction on 20 Jul’21 for 3,700 t (60 kg) and 3,500 t (52 kg) commercial rails from its Bhilai Steel Plant (BSP) in Chhattisgarh. The 60 kg rails were booked at INR 42,500/t exw, INR 1,400/t higher than the previous auction. The reason behind the hike was lower inventory of 60 kg rails at BSP. The 52 kg rails were booked at INR 47,000/t exw.

 

India: Bids at SAIL’s secondary steel auction drop by INR 500/t

Steel Authority of India Limited (SAIL) conducted an auction from Bhilai Steel Plant in Chhattisgarh for defective steel products on 2 Jul ’21. The bid prices for steel bloom dropped by INR 500/t ($6/t) against the previous auction conducted on 16 Jun.

A total of 12,800 t of defective steel was put up for auction out of which 77.28%, i.e. 9,893 t of material got sold, while 2,907 t remained unsold. In the previous auction held on 16 Jun, the share of the quantity sold out of total material on offer was 95%. SteelMint’s daily billet index was assessed at INR 40,600/t exw-Raipur on 2 Jul.

Domestic billet prices in India continue to remain under pressure on falling steel margins and limited inquiries due to subdued domestic finished steel sales. SteelMint’s daily billet index was assessed at INR 40,450/t exw-Raipur on 7 Jul, down by INR 300/t w-o-w.

Highlights of the auction:

Quantity in t
Price in INR/t on exw-Bhilai basis

 

For complete details of all the other products auctioned by SAIL-BSP, please click here =>SAIL BSP Auction Summary 2nd July

 

India: Bids climb at SAIL-BSP defective steel auction on firm buying interest

Steel Authority of India Limited (SAIL) conducted an auction from its Bhilai Steel Plant (BSP) for defective steel products on 16 Jun’21. The auction fetched a comparatively better response than previous secondary steel auctions by SAIL, mainly on improved buying interest, sources said.

A total of 13,017 tonnes (t) of defective steel was put up for auction out of which 95.08% — 12,377 t — of the material got sold.

Bid prices for CC bloom moved up by INR 1,050 /t, while for billets bids were stable compared to the previous auction on 8 Jun.

With the monsoons approaching, steel demand is unlikely to be high; however, mills expect pent-up demand – after the lifting of regional lockdowns across the country –to translate into sales. As a result, secondary mills have started stocking up on raw materials like ferrous scrap. Interestingly, these mills had been scouting for quality ferrous scrap for the last few months. SAIL’s periodic auctions of secondary and defective scrap are offering them an opportunity to secure access to quality material.

Highlights of the auction are as follows:

Quantity in t
Price in INR/t on exw-Bhilai basis

For complete details of all other products, please click here =>BSP Lot approval dtd 16-June

 

India: SAIL BSP defective steel auction witnesses improved buying interest

Steel Authority of India Limited (SAIL) conducted an auction from its Bhilai Steel Plant (BSP) for defective steel products on 8 Jun’21.The auction generated a better response compared to the previous auction on improved buying interest, sources said.

A total of 18,403 t of secondary defective steel was on offer out of which 92.21% i.e. 16,970 t of material got sold.

Bid prices for continuous cast (CC) steel bloom moved up by INR 650 /t and the rise was INR 1,550/t for billet against the previous auction conducted on 29 May.

Prices of induction furnace grade (IF) billet in Raipur have been volatile since the second week of May, dropping from INR 44,000/t levels to a little above INR 40,000/t in end-May. Prices recovered to around INR 43,600/t in the first week of Jun, to fall back again to a little over INR 42,000/t on 9 Jun. Prices of billet and sponge iron produced by secondary manufacturers, which had been losing INR 1,000-1,500/t since the end of last week, have limited scope for further correction, SteelMint notes.

Highlights of the auction are as follows:

Quantity in t
Price in INR/t on EXW Bhilai basis

For complete details of all other products, please click here =>BSP lot approval details

 

 

 

India: Heavy structural steel prices drop by INR 500/t in Raipur

Heavy structural steel prices in Raipur, Central India declined by INR 500/t ($7) today, SteelMint learnt from trade sources. The current offer for 150 mm channel stands at INR 47,000/t. Manufacturers are offering trade discounts depending on booking quantity and payment terms. Downward correction in billet prices, weak demand for structural steel in the spot market and rising inventories at mills have resulted in a drop in prices, sources said.

 

India: Bids rise in SAIL-BSP rails auction on limited inventory

Government-owned Steel Authority of India Ltd (SAIL) conducted an auction on 5 Jun’21 for 800 t (60kg) and 11,800 t (52kg) commercial rails from its Bhilai Steel Plant (BSP) in Chhattisgarh. The 60kg rails were booked at INR 41,100/t – INR 1,850/t higher than the previous auction. The reason behind the hike was lower inventory of 60kg rails at BSP. However, out of the total quantity of 52kg rails offered in the auction, buyers booked only 2,800 t at INR 41,500/t, same as the previous auction.

 

SAIL to auction 12,600 t commercial rails from Bhilai Steel Plant

Steel Authority of India (SAIL) has scheduled an auction for 12,600 t (52 & 60 kg, full length) commercial rails from its Bhilai Steel Plant in Chhattisgarh on 5 Jun’21. In the previous auction on 20 May, out of 13,000 t buyers booked 4,000 t (60 kg) at a weighted average price of INR 39,250/t and 200 t (52 kg) at INR 41,500/t, exw. As per data maintained with SteelMint, bids dropped by INR 950/t for 60kg rails.