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