Steel Authority of India Limited (SAIL) conducted an auction from Bhilai Steel Plant in Chhattisgarh for defective steel products on 2 Jul ’21. The bid prices for steel bloom dropped by INR 500/t ($6/t) against the previous auction conducted on 16 Jun.
A total of 12,800 t of defective steel was put up for auction out of which 77.28%, i.e. 9,893 t of material got sold, while 2,907 t remained unsold. In the previous auction held on 16 Jun, the share of the quantity sold out of total material on offer was 95%. SteelMint’s daily billet index was assessed at INR 40,600/t exw-Raipur on 2 Jul.
Domestic billet prices in India continue to remain under pressure on falling steel margins and limited inquiries due to subdued domestic finished steel sales. SteelMint’s daily billet index was assessed at INR 40,450/t exw-Raipur on 7 Jul, down by INR 300/t w-o-w.
Highlights of the auction:
Quantity in t
Price in INR/t on exw-Bhilai basis
For complete details of all the other products auctioned by SAIL-BSP, please click here =>SAIL BSP Auction Summary 2nd July
Leave a Reply