Government-owned Steel Authority of India Ltd (SAIL) had conducted an auction on 20 May’21 for 13,000 t (52 & 60 kg, full length) commercial rails from its Bhilai Steel Plant in Chhattisgarh. Buyers booked 4,000 t (60 kg) at a weighted average price of INR 39,250/t and 200 t (52 kg) at INR 41,500/t, exw. As per data maintained with SteelMint, bids dropped by INR 950/t in 60kg rails. In the previous auction held on 10 May’21, the entire quantity of 60kg rails had been booked at INR 40,200/t.
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