Steel Authority of India limited conducted an auction from its central India based Bhilai Steel Plant for defective steel products on 27 Jun’20. The auction observed fall in prices compared to the last auction conducted on 17 Jun’20.
A total quantity of 21,858t defective steel was put up for auction, out of which 17,971t (82.21%) was sold and 3,887t remained unsold. In previous auction held on 17 Jun’20 share of total sold quantity was around 77%.
As per sources, buyers had booked entire offered quantity received bids but due to bid prices being less than previous auction, company rejected few lots.
SteelMint’s assessment for Raipur billet stands at INR 27,500/t EXW, mostly stable against last week.
Highlights of the auction are as follows:
| Description | Offered quantity | Approved quantity | Approved Price | Previous auction | Change |
| Billet Def/Rej (upto 110) | 110.7 | 110.7 | 26900 | 27200-27300 | -400 |
| Bloom CC Def/Rej. | 12301.99 | 10035.3 | 22200-22550 | 23000-23100 | -550 |
Quantity in t
Price in INR./t on EXW basis
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