Govt. owned – Steel Authority of India Ltd (SAIL) conducted an auction today for 400 t (60kg) and 10,300 t (52kg) commercial rails from its Bhilai Steel Plant, Chhattisgarh. The entire quantity of 60kg rails was booked at INR 40,200/t which is INR 1,950/t higher compared to the previous auction. The reason behind hike in price in today’s auction was due to lower inventories of 60kg rails in BSP-plant. In this auction out of the offered quantity of 52kg rails buyer’s booked only two lots (200 t) at INR 41,500/t.
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