State-owned Steel Authority of India Ltd (SAIL) conducted an auction on 21 Aug’21 for 10,600 t (60 kg) and 3,900 t (52 kg) of commercial rails from its Bhilai Steel Plant (BSP) in Chhattisgarh. The entire quantity of 60 kg rails was booked at INR 42,100/t exw. Out of the total quantity of 52 kg rails on offer, buyers booked only 300 t at INR 46,500/t exw. Bids for 60 kg rails were INR 1,100/t ($14/t) higher than the previous auction conducted on 11 Aug. As per market sources, most of the material was bought by local traders in the latest auction.
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