Govt. owned – Steel Authority of India Ltd (SAIL) conducted an auction yesterday for 9,300 t (52 & 60 kg-full length) commercial rails from its Bhilai Steel Plant, Chhattisgarh. Due to higher base price (for 60 kg rails), only 300 t was sold at INR 34,250/t exw. Only those who needed immediate stock booked the material. Meanwhile, 425 t of 52 kg rail was booked at INR 41,500/t exw. In the previous auction conducted on 05 Mar, out of the total 19,100 t rails, buyers booked 18,100 t (60 kg) at a weighted average price of INR 33,800 /t exw, 100 t (52 kg) at INR 41,500/t and the remaining 900 t was unsold.
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