Steel Authority of India Limited (SAIL) conducted an auction from its Chhattisgarh-based Bhilai Steel Plant (BSP) for defective steel products on 16 Dec’21. The bid prices for steel blooms increased by INR 1,310/tonne ($17.17/t) against the previous auction conducted on 06 Dec’21.
Around 18,798 t of defective steel were put up for auction, of which 86.30% of the material, equivalent to 16,224 t, got sold.
Bid prices improved following a slight uptick in steel prices along with fluctuating scrap prices in the domestic market. Scrap supply remains limited in the west, north and central regions. In addition, participants are expecting, prices in the near term are likely to remain range-bound.
SteelMint’s daily steel billet index was assessed at INR 42,200/t exw-Raipur, on 17 Dec’21, up by INR 550, w-o-w.
Highlights:
Quantity in t
Prices in INR/t on exw-Bhilai basis
For complete details of all other products, please click here->SAIL-BSP approval summary
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