Steel Authority of India limited conducted an auction from its central India based Bhilai Steel Plant for defective steel products on 17 Jun’20. The auction notified fall in prices compared to the last auction conducted on 9 Jun’20.
A total quantity of 20,035t defective steel was put up for auction, out of which 15,427t (77%) was sold and 4,608t remained unsold. In previous auction held on 9 Jun’20 share of total sold quantity was around 85.87%.
As per sources, buyers had booked entire offered quantity but due to bid price being less than previous auction, company rejected few lots.
SteelMint’s price assessment for Raipur billet decreased by INR1,700/t last week against previous week.
In this auction BSP did not offer any flat steel product for sale.
Highlights of the auction are as follows:
| Description | Offered quantity | Approved quantity | Approved Price | Previous auction | Change |
| Billet Def/Rej (upto 110) | 770.6 | 770.6 | 27,200-27,300 | 29,000 | -1700 |
| Bloom CC Def/Rej. | 10,566.10 | 7,726.75 | 23,000-23,100 | 23,500-23,700 | -600 |
| Bloom RL Def/Rej. | 1,233.10 | 1,233.10 | 23,600-24,200 | 25,350-25,400 | -1200 |
Quantity in t
Price in INR./t on EXW basis
For complete details of all other product please click here => SAIL-BSP approval summary held on 17 Jun’20
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