Steel Authority of India limited conducted an auction from its central India based Bhilai Steel Plant for defective steel products on 09 Jun’20. The auction saw a better response in terms of the bid prices and allotted quantity compared to the last auction conducted on 30 May’20.
A total quantity of 19,329t defective steel was put up for auction, out of which 16,599t (85.87%) was sold and 2,730 MT remained unsold. In previous auction held on 30 May’20, share of total allotted quantity was around 27.45%. On improved buying interest, the auction fetched better response. SteelMint’s price assessment for Raipur billet increased by INR 400-500/t against 30th May’20.
9,300t defective blooms were booked at INR 23,500-25,400/t EXW. Bids for billet (upto 110) were assessed at INR 29,000/t EXW in this auction against INR 28,050-28,200/t EXW in last auction.
In this auction BSP did not offer any flat steel product for sale.
Highlights of the auction are as follows:
| Description | Offered quantity | Approved quantity | Approved price |
| Billet def/rej (above 110) | 115.55 | 115.55 | 28,250 |
| Billet def/rej (upto 110) | 230 | 230 | 29,000 |
| Bloom CC def/rej. | 10,205.58 | 8,805.83 | 23,500-23,700 |
| Bloom RL def/rej. | 538.8 | 538.8 | 25,350-25,400 |
Quantity in t
Price in INR/t on EXW basis
For complete details of all other product please click here BSP APPROVAL 9 JUNE
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