Steel Authority of India Limited (SAIL) conducted an auction from its Chhattisgarh-based Bhilai Steel Plant (BSP) for defective steel products on 27 Oct’21. The bid prices for steel cc-blooms decreased by INR 2,800/tonne (t) ($37/t) against the previous auction conducted on 19 Oct’21.
A total quantity of 11,884 t of defective steel were put up for auction, out of which 10,924 t (91.92%) were sold and 960 t remained unsold.
Two lots of cc-billets were also offered in which one lot, in a very rusty and cracked condition, was sold out at INR 43,600/t while the other got booked at INR 47,000/t exw.
SteelMint’s daily steel billet index was assessed at INR 45,900/tonne (t) exw-Raipur on 27 Oct’21. Limited buying in finished steel at quoted offers had pressured billet prices, pulling down the offers. Throughout last week, SteelMint’s billet index for the Raipur market fell by INR 3,500/t w-o-w.
Highlights:
Quantity in t
Prices in INR/t on exw-Bhilai basis
For complete details of all other products, please click here->SAIL BSP approval details
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