Steel Authority of India Ltd (SAIL) has scheduled an auction for 14,500 t (60 kg and 52kg, full length) commercial rails from the Bhilai Steel Plant in Chhattisgarh on 21 Aug’21. The previous SAIL-BSP rails auction had received a dull response due to the high base price. Out of the total quantity offered, buyers had booked only 900 t at INR 41,000/t exw. As per data maintained with SteelMint, bids had dropped by INR 1,000/t compared with the earlier auction on 30 Jul at which 60 kg rails had been booked at INR 42,000/t exw.
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