Steel Authority of India Limited (SAIL) had conducted an auction from Bhilai Steel Plant (BSP) in Chhattisgarh for defective steel products on 10 Jul ’21. The bid prices for steel bloom dropped by INR 1,300/t ($17/t) against the previous auction conducted on 2 Jul.
A total of 13,108 t of defective steel had been put up for auction out of which 86.51%, i.e. 11,340 t of material got sold, while 1,768 t remained unsold.
At the previous auction on 2 Jul, the share of the quantity that got sold out of the total material on offer was 77.28%.
SteelMint’s daily billet index was assessed at INR 40,600/t (+150) exw-Raipur on 9 Jul. The index rose slightly following active demand. Sources, however, opine that prices are likely to fluctuate as supply remains moderate along with stable raw materials prices.
Highlights of the auction:
Quantity in t
Price in INR/t on EXW Bhilai basis
For complete details for all other products, please click here =>BSP Auction Summary Auction Dated 10-July
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