Steel Authority of India limited conducted an auction from its central India based Bhilai Steel Plant for defective steel products on 08 Jul’20. The auction notified fall in prices compared to the last auction conducted on 27 Jun’20.
A total quantity of 17,774t defective steel was put up for auction, out of which 5,644t (31.75%) was sold and 12,130t remained unsold. In previous auction held on 27 Jun’20 share of total sold quantity was around 85%. Hence the recent auction fetched dull response.
As per sources, buyers had booked entire offered quantity but due to price being less than previous auction, company rejected some lots. Notably, lots containing defective bloom CC and billets (upto 110) did not receive approval.
SteelMint’s price assessment for Raipur billet was reported at around INR 27,100/t EXW on 08 Jul’20, down by INR 300/t w-o-w.
Highlights of the 08 Jul’20 auction are as follows:
For complete auction summary please click => BSP auction summary dtd 8 july
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