Steel Authority of India Limited (SAIL), conducted auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 4th Feb’20.
Nearly 1327.2MT defective billets were put up for auction and out of total quantity 1206.8 MT booked.The bids of billet (up to 110) were assessed at INR 29,450/MT (EXW-Bhilai).
Except billet rest all lots got limited participation due to higher base price
In a week’s time, spot billet prices have come down by INR 300/MT to INR 29,450/MT ex-Raipur In this auction (12,936.5 MT) of CC-Blooms put up for auction in which only 1,314.4 MT got booked at INR 24,950/MT (EXW-Bhilai).
Out of 29, 063.2 MT total quantity of steel put up for auction 4, 531.5 MT (15.59%) material was sold and 24531.7 MT remained unsold.
The auction attracted participation from only those buyers who were in need of immediate stock to run their plants.
| Description | Sold Quantity | Bid Price | Grand Total |
| Plate Cutting Cat-A | 0 | 0 | 702.6 |
| Plate Cutting Cat-B (8-20 MM) | 0 | 0 | 541.05 |
| Plate Cutting Cat-B (>20 – 40 MM) | 125.3 | 37250 | 125.3 |
| PM end Shearing Cat-I | 0 | 0 | 1490 |
| Merchant Mill Cutting | 0 | 0 | 1795.5 |
| TMT Bar Defective | 0 | 0 | 516 |
| MM Cobble | 0 | 0 | 133 |
| Wire Rod Cutting | 135 | 29000 | 793 |
| WR Coil Def. | 0 | 0 | 282.2 |
| Rail Cutting | 0 | 0 | 900 |
| Rails Def./Rej R-60 | 1400 | 25950 | 4920.5 |
| Billet Def/Rej (Above 110) | 0 | 0 | 206.35 |
| Billet Def/Rej(Upto 110) | 1206.8 | 29450 | 1327.2 |
| Bloom CC Def/Rej | 1314.4 | 24950 | 12936.5 |
| Bloom RL Def/Rej | 0 | 0 | 957.25 |
| Slab CC Def/Rej. | 0 | 0 | 637.75 |
| Steel Scrap 0-80 | 300 | 12600 | 300 |
| Steel Scrap OCC. Skulls & Pit Jam | 0 | 0 | 100 |
| Tundish Steel Skull Scrap | 0 | 0 | 149 |
| Wear Scrap | 0 | 0 | 150 |
| Turning & Boring from RTS | 25 | 28000 | 50 |
| MS Turning & Boring | 25 | 22550 | 50 |
| Grand | 4531.5 | 29063.2 |
Quantity in MT
Bid Prices in INR/MT
Source: SteelMint Research
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