India: SAIL-BSP’s commercial-rails auction receives poor response, bids decline

Govt. owned – Steel Authority of India Ltd (SAIL) conducted an auction yesterday for 26,300 t (52 & 60 kg-full length) commercial rail from its Bhilai Steel Plant, Chhattisgarh. Out of the total offered quantity, buyers booked only single lot of 500 t at INR 29,500/t ex-works. In the previous auction conducted on 21 Jan ’21 for 23,000 t rails, buyers booked 3,000 t at INR 30,000/t ex-works.