Steel Authority of India Limited (SAIL) conducted an auction from its Bhilai Steel Plant (BSP) for defective steel products on 31 Jan’22. The auction fetched a comparatively better response than the previous secondary steel auctions by SAIL, mainly due to facing coal and scrap shortage at domestic level, sources said.
The bid prices for steel blooms increased by INR 2580/tonne ($34/t) against the previous auction conducted on 20 Jan’22.
Around 13,917 t of defective steel were put up for auction, of which 76.84% of the material, equivalent to 10,695 t, got sold. As compared with the previous auction, the success ratio has also been increased by 31%.
Bid prices improved on active buying enquiries and transactions in semi-finished and finished steel products during the last week of Jan-22, following which, suppliers raised their offers.
SteelMint’s daily steel billet index was assessed at INR 48,400/t exw-Raipur, on 31 Jan’22, up by INR 2,200/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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