Steel Authority of India Limited (SAIL) conducted an auction from its Chhattisgarh-based Bhilai Steel Plant (BSP) for defective steel products on 4 Jan’22. The bid prices for steel blooms increased by INR 640/tonne ($8.61/t) against the previous auction conducted on 24 Dec’21.
Around 15,173 t of defective steel were put up for auction, of which 79.21% of the material, equivalent to 12,019 t, got sold. As compared with the previous auction, the success ratio has been increased by 10%.
Bid prices improved on active buying enquiries and transactions in semis and finished steel products during the start of this week, following which, suppliers raised their offers.
SteelMint’s daily steel billet index was assessed at INR 43,700/t exw-Raipur, on 4 Jan’21, up by INR 900/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->BSP lot approval summary
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