Steel Authority of India Limited (SAIL) conducted an auction from its central India based Bhilai Steel Plant (BSP) for defective steel products on 23 May’20. The auction witnessed a better response in terms of the bid prices compared with the last auction conducted on 15 May’20.
In this auction total 28,166 MT defective steel was put up for auction, out of which 14,339 MT material fetched bids but the company only approved 4,285 MT and 23,881 MT remained unsold.
Highlights of the auction are as follows:
Bloom- 14,824 MT Bloom-CC was put up for auction out of which 2,370 MT got bids at INR 23,500-600 /MT EXW but the company did not approve the prices and the lots got rejected. In previous auction held on15 May’20 total 9170.1 MT was sold out at INR 22,100-23,500/MT EXW.
Billet – Two lot Billet offered but only one lot 179 MT got bid at INR 27,650/MT EXW.
Last week, spot steel trades improved in India’s major markets followed by increase in offers of mid sized mills upto INR 1,000/MT. SteelMint’s Raipur billet assessment stood at INR 28,200/MT EXW towards last week closing, up by INR 1,050/MT W-o-W.
For complete details of all other product please click23-May summary
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