Steel Authority of India Limited conducted an auction from its central India based Bhilai Steel Plant for defective steel products on 23 Dec ’20. In this auction, buyers aggressively placed their bid and booked the entire offered quantity. The auction fetched a better response on improved buying interest, sources said. Bid prices for bloom also moved up by INR 150/t against the previous auction.
A total quantity of 32,927 t defective steel was put up for auction, in which 100% material was sold out. In the previous auction held on 15 Dec’20, the share of total sold quantity was around (99.88%).
SteelMint’s billet index stood at INR 38,300/t exw Raipur on 23 Dec ’20, up by around INR 1,000/t w-o-w.
Highlights of the auction are as follows:
Quantity in t
Price in INR/t on EXW basis
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