Steel Authority of India Limited (SAIL), conducted auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 20 Dec’19.
Nearly 1,451 MT defective billets were put up for auction out of which entire quantity got booked. The bids of billet (up to 110) were assessed at INR 27,000-27,400/MT (EXW-Bhilai), which is Rs 1400/MT higher than the previous auction conducted on 12th Dec,19.
Out of 54,378.37 MT total quantity of steel put up for auction, 27, 634.91 MT (50.81 %) material was sold and 26,743.46 MT remained unsold.
Spot billet prices moved up by up to INR 2000/MT in the last one week. In Raipur, billet prices moved up by INR 1,700/MT W-o-W following hike in sponge prices and improved trades.
In this auction entire quantity (of Plates, Merchant mill, TMT Bar, Wire Rod, Billet, Slab) got booked.
| Product | Sold | Unsold | Bid Price | Grand Total |
| PLATE CUTTING CAT I | 134 | 0 | 28600 | 134 |
| PLATE CUTTING CAT-A | 565.2 | 0 | 30100-30500 | 565.2 |
| PLATE CUTTING CATEGORY B (8-20 MM) | 177.85 | 0 | 31650 | 177.85 |
| PM END SHEARING CAT I | 265 | 0 | 26400-26450 | 265 |
| MERCHANT MILL CUTTINGS | 187.35 | 0 | 27900-29000 | 187.35 |
| TMT BAR DEFECTIVE | 179 | 0 | 27500 | 179 |
| MM COBBLE | 105 | 0 | 24200-24250 | 105 |
| WIRE ROD CUTTING | 120 | 0 | 25850 | 120 |
| WR COIL DEF | 200.15 | 0 | 22900-23000 | 200.15 |
| WRM TRIMMING AND CUTTING | 0 | 25 | 0 | 25 |
| RAIL CUTTING | 2337 | 0 | 22700-22800 | 2337 |
| RAILS DEF/REJ R-60 | 1952.45 | 3300 | 22950-23000 | 5252.45 |
| BILLET DEF/REJ (ABOVE 110) | 203.05 | 0 | 26350-26700 | 203.05 |
| BILLET DEF/REJ (UPTO 110) | 1248.2 | 0 | 27000-27400 | 1248.2 |
| BLOOM CC DEF/REJ | 16039.55 | 15824.51 | 22100-22150 | 31864.06 |
| BLOOM RL DEF/REJ | 3305.15 | 7094.95 | 22500-24100 | 10400.1 |
| SLAB CC DEF/REJ | 361.05 | 0 | 23250-23350 | 361.05 |
| STEEL SCRAP OH GRADE | 0 | 200 | 0 | 200 |
| TUNDISH STEEL SKULL SCRAP | 0 | 149 | 0 | 149 |
| Wear Scrap | 0 | 150 | 0 | 150 |
| NONUSABLE LOW GR STEEL MELTING SCR CAT-I | 200 | 0 | 10350 | 200 |
| TURNING AND BORING FROM RTS | 25 | 0 | 25650 | 25 |
| MS TURNING AND BORING | 29.91 | 0 | 20350 | 29.91 |
| Grand Total | 27634.91 | 26743.46 | 54378.37 |
Quantity in MT
Bid Prices in INR/MT
Source: SteelMint Research
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