Steel Authority of India Limited (SAIL) conducted an auction from its Chhattisgarh-based Bhilai Steel Plant (BSP) for defective steel products on 28 Jul’21. The auction fetched a better response on improved buying interest, sources said.
Around 10,473 tonnes (t) of defective steel were put up for auction, of which 81% of the material, equivalent to 8,492 t got sold.
Bid prices for blooms shot up by INR 1,750 /t and those for billets rose by INR 1,450/t against the previous prices fetched in the auction conducted on 20 Jul’21.
SteelMint’s daily billet index was assessed at INR 42,800/t exw-Raipur, on 28 Jul’21. The index rebounded following improved demand from the local as well as western region-based mills and prevailing optimistic sentiments with the assumption by market participants that the primary steel mills are likely to keep prices strong for Aug’21 deliveries.
Highlights:
Quantity in t
Price in INR/t on exw-Bhilai basis
For complete details of all other products, please click here->BSP auction summary auction dtd 28 Jul
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