Steel Authority of India limited conducted an auction from its central India based Bhilai Steel Plant for defective steel products on 05 Aug’20. The auction noticed sharp increase of upto INR 900/t in bid prices compared to the last auction conducted on 28 Jul’20.
A total quantity of 10,246t defective steel was put up for auction, out of which 9,625 t (93.93%) was sold and 6,21t remained unsold. In previous auction held on 17 Jul’20, share of total sold quantity was around 94.38%.
SteelMint’s price assessment for Raipur billet on 05 Aug’20 increased significantly by around INR 600-700/t w-o-w following hike in sponge prices and tight raw material availability.
Highlights of the auction are as follows:
For complete auction summary please click hereAuction summary
Leave a Reply