Steel Authority of India Limited (SAIL), conducted auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 2nd Aug’19.
Out of 48,110.38 MT defective steel put up for auction, only 9,050.15 MT (18.81%) material was sold out. The base prices of Rails for this auction by SAIL (BSP) was kept at INR 24,375-24,725/MT, which is down by INR 850-1200/MT considering prior to the previous auction held on 20th Jul’19.
In this auction, only defective Rail product managed to get concluded nearby 70% quantity and Billet remain unsold which is usually being matched bids against previous auctions.
| PRODUCT | SOLD | UNSOLD | BID RANGE | Grand Total |
| BILLET | – | 2185.75 | – | 2185.75 |
| BLOOM | 2085.9 | 27497 | 23,600 | 29582.9 |
| COIL | – | 862.3 | – | 862.3 |
| MERCHANT MILL | 152.55 | 450.41 | 31,150 | 602.96 |
| PLATE | 738.7 | 1343.6 | 26,600-32,300 | 2082.3 |
| RAILS | 5413 | 2337 | 24,375-24,725 | 7750 |
| SCRAP | 550 | 1097.62 | 11,400-26,700 | 1647.62 |
| SLAB | – | 1596.55 | – | 1596.55 |
| TMT | 110 | 240 | 25,700 | 350 |
| WIRE ROD | – | 1450 | – | 1450 |
| GRAND TOTAL | 9050.15 | 39060.23 | 48110.38 |
Qty in MT
Prices in INR/MT
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