Steel Authority of India Limited (SAIL), conducted auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 15 Nov’19.
Out of 52321.32 MT steel put up for auction, 6,419.91 MT (12 %) material was sold and 45,901.41 MT remained unsold.
The bids of billet were assessed at INR 24,350-25,750/ MT(EXW-Bhilai), Bids decreased by around INR 250-350/MT compared to the previous auction held on 7th Nov. Spot steel prices fell last week in Raipur amid fewer inquiries. SteelMint’s assessment for Raipur billet fell by INR 700-800/MT W-o-W to INR 26,000/MT (ex-Raipur).
In this auction entire quantity (of Merchant Mill, Billet, SLAB & TMT Bar) got booked.
| Product | Sold | Unsold | Bid Prices | Grand Total |
| Billet | 610 | 0 | 24350-25750 | 610 |
| Bloom | 367.25 | 37083.21 | 23050 | 37450.46 |
| Merchant Mill | 265.75 | 0 | 25650-26000 | 265.75 |
| MM Cobble | 53 | 0 | 23050 | 53 |
| MS Turning and Boring | 146.46 | 0 | 13600-25650 | 146.46 |
| Plate | 1477 | 457.35 | 24800-29730 | 1934.35 |
| Rails | 1977.5 | 7237 | 24020 | 9214.5 |
| Scrap | 0 | 886 | 0 | 886 |
| Slab | 1016.15 | 0 | 23050 | 1016.15 |
| TMT Bar | 140 | 0 | 26200-26250 | 140 |
| Wire Rod | 130 | 0 | 25550 | 130 |
| WR-Coil | 236.8 | 237.85 | 23050-27000 | 474.65 |
| Grand Total | 6419.91 | 45901.41 | 52321.32 |
Quantity in MT
Bid Prices in INR/MT on EXW-Bhilai basis
Source: SteelMint Research
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