Steel Authority of India Limited (SAIL) conducted an auction from its Central India based Bhilai Steel Plant for defective steel products on 30 Apr ’21.The bid prices for bloom dropped by INR 650/t against the previous auction conducted on 22 Apr’21.
A total quantity of 20,319 t of defective steel was put up for auction, in which entire material was sold out. In the previous auction held on 22 April, the share of total sold quantity was around (99.09%).
SteelMint’s daily billet index has been assessed at INR 41,200/t exw Raipur on 30 Apr ’21 as against INR 41,900/t on 22 Apr’21. India’s secondary steel market observed a volatility in prices last week with plants cutting down production on supply constraints of liquid oxygen. Finish long steel trades remained subdued on imposed lockdown restrictions.
Highlights of the auction are as follows:
Quantity in t
Price in INR/t on EXW Bhilai basis
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