Steel Authority of India Limited (SAIL), conducted auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 4 Oct’19.
Out of 48,629 MT steel put up for auction, only 5,738 MT (11.7 %) material was sold and 42,891 MT remained unsold. The bids for billet were assessed at INR 24,650 -25,600/ MT ex-Bhilai, which is down by around INR 585-1,185/MT compared to the auction held on 25 Sept’19. Prior to this the auction was held on 26 Sept’19 but did not fetch any response.
In this auction entire quantity (of MM Cobble, Merchant Mill, TMT Bar, and Slab) got booked.
| PRODUCT | SOLD | UNSOLD | BID PRICES | Grand Total |
| BILLET | 1172.15 | 692.25 | 24,650-25,600 | 1864.4 |
| BLOOM | 307.75 | 32592.51 | 23,535 | 32900.26 |
| MERCHANT MILL | 670.85 | – | 25,200-31,500 | 670.85 |
| MM COBBLE | 136 | – | 23,535-24,235 | 136 |
| PLATE | 864.8 | 182.1 | 25,050-29,800 | 1046.9 |
| RAIL | 617.85 | 8419.2 | 23,535-25,535 | 9037.05 |
| SCRAP | 1084 | 691.25 | 12,600-25,700 | 1775.25 |
| SLAB | 333.5 | – | 23,535 | 333.5 |
| TMT | 371 | – | 26,150-26,450 | 371 |
| WIRE ROD | 180.1 | 314.6 | 26,135-29,885 | 494.7 |
| Grand Total | 5738 | 42891.91 | 48629.91 |
Quantity in MT
Bid Prices in INR/MT
Source: SteelMint Research
Leave a Reply