Steel Authority of India Limited (SAIL) conducted an auction from its central India based Bhilai Steel Plant for defective steel products on 24 Aug’20. The auction noticed a sharp decrease of up to INR 750/t in bid prices compared to the last auction conducted on 14 Aug’20, SteelMint learned from its sources.
A total quantity of 10,729 t defective steel was put up for auction, out of which 7,600t (70.83%) was sold and 3,129t remained unsold. In previous auction held on 14 Aug’20, share of total sold quantity was around (95.15%).
SteelMint’s price assessment for Raipur billet stood at INR 28,800/t exw Raipur on 24 Aug’20, down by INR 2,900/t w-o-w on limited trades and dull demand. However market sentiments have slightly picked up yesterday with improvement in trade activities.
Highlights of the auction are as follows:
For complete auction summary please click here =>> BSP Summary
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